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How Today's Richest Nations Overcame Poverty, Ghana Must Advance

Feature Article How Todays Richest Nations Overcame Poverty, Ghana Must Advance
SUN, 19 JAN 2025

Throughout modern history, there are numerous examples of how once impoverished nations have overcome poverty, when economic miracles have occurred in various nations, either through the discovery of minerals or the declaration of war against corruption. Ghana already possesses a wealth of natural resources, such as oil, diamonds, gold, and other cash crops; thus, as a concerned Ghanaian, it is time to inquire as to why the country is unable to develop more than 60 years after independence.

For example, Singapore, whose primary source of income was fishing, was regarded as an extremely impoverished country. The nation that was formerly a British colony was extremely impoverished and underdeveloped, lacking any resources or advantages that would enable it to become wealthy. However, today, it is known as the Asian economic miracle, and it is currently listed among the nations with the strongest economies in the world.

Since Singapore's government lacked its own, they depended on and were compelled to purchase from their neighbors, Malaysia, Indonesia, Thailand, and Vietnam. The nation's population was impoverished, lacked access to education, and was unable to visit a doctor. There was an increase in piracy, crime, corruption, and the trafficking of people and drugs. However, the nation's economy is now the most competitive in the world, nevertheless, thanks to strong leadership and the battle against crime and corruption.

Switzerland was Europe's poorest nation until 1850. There were no opportunities for growth and development in the country; therefore, a large number of people left the country about 150 years ago in quest of better opportunities elsewhere. Since the terrain is uncomfortable due to high hills and large boulders, the soil is arid, and there is no way to access the sea, which limits the opportunity for trading with other communities.

The Industrial Revolution and the new constitution, which is still in effect today, were the only things that salvaged the situation. The state started making enormous financial investments in people, their education, and the development of urban infrastructure rather than in the pursuit of oil, the improvement of unfruitful land, or the building of ports. More significantly, the nation was able to flourish peacefully because of its military neutrality for many centuries, preventing terrible battles on its territory.

Switzerland now boasts as one of the strongest and most stable economies in the world because of its development style. Compared to the wealthiest nations in the US, Asia, and the EU, local average salaries are significantly higher, and due to its effective banking system, which attracts businesspeople, entrepreneurs, and bankers to invest in a nation where its citizens were previously fleeing in search of better possibilities, investors are keen to make investments in Switzerland.

Ghana's wealth is not a guarantee that the people will get out of poverty. Even if a nation has abundant natural resources, it will never advance if its leaders are senseless morons. Another crucial element is that, regardless of a nation's wealth in natural resources, corruption will grow unchecked and have terrible consequences if its judicial system is weak and corrupt. This is the tale of Ghana's current situation. Businesses and the country's economy have crumbled due to unchecked corruption.

Many nations around the world, apart from China, Switzerland, Singapore, and Middle Eastern countries, had weak economies fifty years ago. Still, with hard work, development, and agricultural investment, they have grown to have robust economies today. Ghanaians are fortunate to have the resources necessary to dominate the globe, but due to extensive corruption that goes unpunished and ineffective leadership, the majority of the population lives below the poverty line.

Ghana must advance, which entails enacting laws or taking significant steps to safeguard its resources so they can be effectively used for stability and economic prosperity. That’s the reason I view any Ghanaian who opposes the ORAL team as an avaricious nation-wrecker, an economic saboteur, and a criminal, who is solely interested in their political benefit and has no regard for the suffering masses who deserve better.

Joel Savage
Joel Savage, © 2025

Belgian-Ghanaian journalist, Joel Savage, writes the "A Mixture Of Periodicals" column. The Flemish Journalists Association member frequently contributed to the features sections of the Weekly Spectator, Ghanaian Times, Daily Graphic and The Mirror. He lives in Belgium.  Column: Joel Savage

Disclaimer: "The views expressed in this article are the author’s own and do not necessarily reflect ModernGhana official position. ModernGhana will not be responsible or liable for any inaccurate or incorrect statements in the contributions or columns here." Follow our WhatsApp channel for meaningful stories picked for your day.

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