It's been over three years since Ghana first struck (black) gold in June 2007 , and while the euphoria around the find has somewhat diminished, most Ghanaians still have high hopes for our "new" resource. Then, as now, I am highly skeptical about our oil find and probably more pessimistic than optimistic about its potential for growing Ghana's economy. Until now, I've kept pretty mum about the issue, but given that the first production of oil is set to start next month - in a couple of days - I think it's time to break the silence. While there is no set formula for development, many economists turn to income level to determine growth in an economy. Others would also look at education, health, the influence of technology and so on as determinants. With regards to Ghana, I believe that henceforth, our development will be greatly influenced by what I'd like to introduce as the oil-gas coefficient. So there you have it people, a historic moment is upon us. ...
Ghana, Africa, Development, Lifestyle: A Panoramic View of the Exchange Called Life.