Some experts have warned the government against over-reliance on the country’s natural resources as part of its commitment to move the country beyond aid.
The warning comes as the latest World Bank report reveals that environmental degradation is costing the country more than 12% of its GDP.
Resident Country Representative of Konrad Adenauer Stiftung, Burkhardt Hellemann has, therefore, urged the government to support other sectors of the economy to harness its much-touted agenda.
“I think, yes, natural resources can play an additional part in moving or developing Ghana beyond aid it gives as well some resources to the country in order to improve the business situation,” he said.
Mr. Hellemann added, “Nevertheless, I would never say that the country should only rely on natural resources in order to move beyond aid, it shouldn’t be mixed too much together meaning natural resources development is the only key for the development of the country, I don’t believe in that; there are so many other areas to look at.”
Mr Hellemann spoke to JoyBusiness at a Natural Resource Breakfast Meeting organized by the Institute of Green Growth Solutions here in Accra.
Director of United Nations University – Institute of Natural Resources in Africa, Dr Elias Ayuk said Ghana is yet to fully adopt the sustainable use of resources.”
He said, “Ghana like African countries, there’s the need for relative decoupling; which means that they can grow and hurt the environment a little bit but as they grow, they should be reducing the pressure that they put on the environment.”
The 2018 Natural Resource Breakfast Meeting was organized by the Institute of Green Growth Solutions on the theme, “Ghana beyond Aid; the role of Natural Resources.”