Ghana Must Invest More In Its People Than Natural Resources – Joseph Cudjoe Writes

According to an opinion article published by 3News on October 11, 2026, former Minister of State at the Ministry of Finance, Joseph Cudjoe, has called on Ghana to reconsider its dependence on natural resources as the foundation of national wealth, arguing that human capital, education and technological innovation are more important for sustainable economic development.

In his article, Cudjoe noted that Ghana has considerable deposits of gold, bauxite, manganese and lithium but risks overlooking the importance of developing the knowledge and skills of its citizens.

He cited countries such as Singapore, Japan, South Korea, Switzerland and the Netherlands as examples of nations that have achieved significant economic progress without depending on abundant natural resources.

According to him, Ghana must invest heavily in Science, Technology, Engineering and Mathematics (STEM) education to equip young people with the technical knowledge and innovative abilities needed to develop products, create technologies and establish competitive industries.

Cudjoe explained that natural resources can become depleted or lose their economic value because of technological advancements, alternative materials and changing industrial demands. He therefore cautioned against building the country’s economic future primarily around mineral extraction and exports.

He further stressed the importance of scientific research, technical training, manufacturing and entrepreneurship in strengthening Ghana’s productive capacity. He added that processing minerals locally, where economically viable, could help create industries and employment opportunities.

The former minister also argued that human knowledge and creativity can continuously generate new sources of wealth, unlike finite mineral deposits.

However, Cudjoe raised questions about the current government’s commitment to developing these capabilities. He asked whether President John Dramani Mahama’s administration was investing enough in STEM education and taking the necessary steps to prepare young Ghanaians for an economy driven by technology and innovation.

He contrasted this concern with the education policies of the previous Akufo-Addo and Bawumia administration, which he believes demonstrated an understanding of the importance of education.

His central argument is that Ghana’s long-term prosperity will depend not only on the resources beneath its soil but also on the capabilities of its people.

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