There’s been a flurry of excited news coming out of Ghana the past few weeks. Ghana’s growth rate hits 16%. Ghana signs the first $1 billion of its $3 billion loan agreement with China. An additional $6 billion Chinese loan is in the works. The $1.2 billion gas plant project will soon move into high gear. Vice President John Dramani Mahama says Ghana will rake in $1 billion from gas annually and that will allow Ghana to pay off the $3 billion loan ahead of schedule. He predicts the gas industry will create hundreds of thousands of jobs. (Check out Ghana Oil Watch for articles on all this and more.)
Wow! All sounds amazing, but is it too good to be true?