It could have been one of those African countries that fulfills all the negative stereotypes. In 1957, Ghana became the first African nation to win independence from Britain, and for a long time, it seemed as if this state on the Gulf of Guinea was headed in the wrong direction.

President Kwame Nkrumah's botched attempt to introduce socialism to modern Ghana resulted in a massive financial crisis, high national debt and corruption. In the years that followed, a series of military coups ended with the ascension to power of Flight Lieutenant Jerry Rawlings in 1981. His reign of terror and repression lasted for 11 years, although he did manage to advance Ghana's economy.

The IMF and the World Bank began to praise Ghana's economic and political stability in ever-louder tones. Rawlings had managed an about-face, and in 1992, he emerged as the victor from elections that were more or less free and fair.

Clinton visit marks turn-around

In 1998, former US President Bill Clinton became the first US leader to visit Ghana, and he showered Rawlings with accolades. Clinton described Ghana's development as part of a new African renaissance, not least because something very unusual happens in Ghana: state rulers voluntarily step down or end their terms in office in an orderly fashion.

That was the case with Rawlings, and then with John Kuffuor. And if Ghana remains true to its reputation, it will also be the case with John Atta-Mills of the National Democratic Congress. He took office this year after a run-off against the New Patriotic Party, marking the second time that power had been transferred from one legitimately elected leader to another.

Ghana's economy is continuing a pattern of strong growth, despite the fact that the national debt has climbed dramatically in recent years. The financial crisis has been tough on the world's second-biggest cocoa producer. But the discovery of oil reserves off the coast is reviving the country's colonial-era name: Gold Coast.

Ghana, however, is determined not to follow the inglorious example of Nigeria, where corruption means poverty is rampant despite the country's vast oil wealth. In contrast, Ghana aims to also set an example in the sustainable management of its oil reserves.

Author:Alexander Goebel (dc)

Editor: Michael Knigge