|
|
Print-friendly version
Ghana
| You are viewing results 1 to 9 of 9 |
| You are viewing results 1 to 9 of 9 |
Ghana Profile
Area: 239,000 sq km
Population: 18,845,265 (March 2000 census) 22.1 million (2005 UN estimate)
Capital City: Accra, 1.7 million
People and languages: The official language is English. There are around 75 spoken languages and numerous ethnic groups, including the Akan, the Mossi, the Ewe, the Ga-Adangme, the Fante, and the Hausa.
Religion: Islam, Christianity and indigenous beliefs.
Currency: Cedi
Major political parties: New Patriotic Party (NPP), National Democratic Congress (NDC), People’s National Convention (PNC), Convention Peoples’ Party (CPP).
Head of State: President John Kufuor, Elected 2000 and 2004.
Foreign Minister: Hon Akwasi Osei-Adjei
Membership of international organisations: Commonwealth, United Nations (UN), Economic Community of West African States (ECOWAS), African Union (AU)
GHANA ECONOMYBasic Economic FactsGDP: US\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\$12bn (2006 est)
Annual Growth: 6.0% (2006 est)
Inflation: 10% (2006 est)
Exchange rate: 17,411.5 cedis = £1 (December 2004)
Major Industries: cocoa, gold and timber.
Major trading partners: The European Union, United States, Nigeria, Togo.
Ghana’s economy has always been dependent on a small number of key exports principally gold and cocoa, although more recently it has developed a burgeoning service sector. Gold dominates the mining sector and contributes 30% of foreign exchange earnings. Ghana also produces diamonds, manganese and bauxite. Ghana is also a major cocoa producer. In 2006, with an output of 740,000 tonnes, it has retained its position as the second largest producer in the world, a position it had not held for 3 decades before 2003. Cocoa production is subject to volatile prices and the vagaries of the weather. This makes the economy vulnerable.
Since 2001 the Kufuor administration has achieved some success in stabilising the macroeconomy, helped initially by high gold and cocoa prices, through the introduction of tighter monetary, fiscal and exchange rate policies. As Ghana’s economy continues steady growth, power supply is an increasing problem. A large amount of remittances come in from Ghana’s extensive diaspora, much of which is invested in the booming property sector in the main cities. Ghana is trying to diversify its sources of external funding, including in the successful international commercial bond issue in September 2007. Ghana’s economic prospects were given a further boost with the announcement in June 2007 of significant oil finds off the coast. The UK-registered firm Tullow Oil has a major stake in the new discoveries, which are likely to still take several years to come on-stream.
Ghana’s current IMF agreed 3-year Poverty Reduction Strategy (PRS) finished in October 2006. Loans attached to it amounted to around US\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\$258 million. The government has stated its intention to sign up to the IMF's policy support instrument and implement its own growth and poverty reduction strategy. In July 2004 Ghana reached Heavily Indebted Poor Countries (HIPC) completion point. Ghana’s debt has been massively reduced as a result of this.
HISTORY OF GHANAModern Ghana was created from the British Gold Coast Colony, established in 1874, and the UK-administered Trusteeship Territory of Togoland, incorporated in 1956 following a plebiscite. Agitation for independence grew strongly after the Second World War. From the early 1950s, self-government was introduced with elections in 1951, 1954 and 1956 to the legislative assembly. Kwame Nkrumah’a party, the CPP, won all 3 elections and led the country to independence, as Ghana, in March 1957. Ghana was the first sub-Saharan country in colonial Africa to gain its independence. Nkrumah was the first Prime Minister, and in 1960 became President with the change of Ghana’s status to a Republic within the Commonwealth.
Nkrumah turned Ghana into a 1-party state under African Socialism. A celebrated pan-Africanist, he also developed close ties with the Soviet Bloc. He was overthrown in Ghana’s first military coup in 1966. For the next 26 years until 1992, Ghana had only short periods of civilian rule (1969-71,1979-81) interrupted by longer periods of military rule (1966-69,1972-79, 1981-1991). During the last period of military rule Flt Lt Jerry Rawlings brought in populist policies, and Cuban-style revolutionary institutions, including the CDRs, Committees for the Defence of the Revolution, and Peoples Defence Committees. However, under pressure internally and from the international community, in 1991 Rawlings conceded a return to constitutional rule and multi-party politics. A new constitution was approved in a referendum in April 1992.
INTERNATIONAL RELATIONSGhana maintains close and friendly relations with its West African neighbours, largely through the regional organisation Economic Community of West African States (ECOWAS), in which it is a key player. President Kufuor was the Chair of ECOWAS in 2003/4 and during that time he played an active role in attempting to resolve the crises in Liberia and Côte d’Ivoire.
On the wider African stage, Ghana plays a leading role in the African Union (AU) and has been a major supporter of NEPAD, the AU’s flagship development plan. Ghana was one of the first 4 countries to be subject to NEPAD’s African Peer Review Mechanism. The review mechanism report was released in June 2005 and is available on the NePAD website (www.nepad.org). In January 2007 Ghana became the Chair of the African Union, a nomination seen as fitting in the year that Ghana celebrated its 50th anniversary.
Ghana's Relations with the UKThe UK’s relations with Ghana are warm and strong. There are wide ranging social, economic and commercial contacts. The UK is a second home for several hundred thousand Ghanaians. Recent Visits OutwardsHigh level bilateral visits and contacts are a feature of our relations. Her Majesty The Queen and Prince Philip paid a State Visit to Ghana on 7-9 November 1999. The Prime Minister, Tony Blair, visited Ghana in February 2002. The Duke of Kent visited Ghana at the beginning of March 2007 to participate in the celebrations of the 50th Anniversary of Ghana’s independence. Baroness Amos, then Leader of the House of Lords, Alistair Darling, Chancellor of the Exchequer and Kim Howells, Foreign and Commonwealth Office Minister, all visited Ghana in 2007.
Other visits by senior Government Ministers include Foreign & Commonwealth Office Minister Chris Mullin MP (July 2003), the then Foreign Secretary Robin Cook (March and November 1999), Clare Short, the then Secretary of State for International Development (February 2001 and February 2002), Hilary Benn (March 2004 and November 2003) and Baroness Amos, Leader of the House of Lords (January 2005). Other visitors have included Sir Martin Laing, Chairman of the British Overseas Trade Board, and FCO Ministers Tony Lloyd, Peter Hain and Brian Wilson, in addition to Michael Meacher as Environment Minister.
Recent Visits InwardsPresident Kufuor made a successful State visit to the UK on 14-16 March 2007, as part of the celebrations of the 50th anniversary of Ghana’s independence. President Kufuor had made other visits to the UK, including an official visit in April 2004 and September 2001.
GEOGRAPHY OF GHANAGhana is situated in West Africa. It is bordered by Togo in the east, Burkina Faso in the north, Cote d’Ivoire in the west and the Atlantic Ocean to the south. A narrow grassy plain stretches inland from the coast, widening in the east. The south and west are covered by dense rain forest. To the north are forested hills, beyond which is dry savannah and open woodland. The Black and White Volta rivers enter Ghana from Burkina Faso and lead to the largest man-made lake in the world, Lake Volta.
TRADE AND INVESTMENT IN GHANATrade and Investment with the UKGhana is the UK’s fourth largest export market in Africa. UK exports in goods to Ghana were valued at £189.8m in 2006, up from £155.04m in 2006. Various manufactured articles, pharmaceuticals and textiles made up the majority of these exports. UK imports from Ghana were £148.8m in 2006, up from £117.7m in 2005.
The UK is the largest investor in Ghana, with an estimated £500m of assets. One of the biggest investments is Lonmin’s 32% share in Ghana’s largest gold mining company, Ashanti Goldfields. Altogether, there are 141 companies with British equity registered with the Ghana Investment Promotion Centre. The key ones are Unilever, Guiness, British Airways, Standard Chartered Bank, Barclays, Paterson Zochonis, Taylor Woodrow and Cadbury. DevelopmentDespite much progress, Ghana still faces significant development challenges, particularly in rural areas and in the north. 45% of the population live on less than \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\$1 a day and 79% on less than \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\$2 a day. The economic and social policies of Ghana have confirmed the government’s intent to work towards international development targets, but the country needs considerable support to invest in the social, economic and productive sectors for some years to come. In 2006 Ghana received a large grant of \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\$547m as part of the US Millenium Challenge Account (www.mcc.gov).
Ghana is one of the UK's largest developmental programmes in Africa. Aid in support of their Poverty Reduction Strategy has now reached approximately £70m a year. Rather than a project approach, the Department for International Development (DFID) has embarked on a sector wide approach and budget support delivered in coordination with other donors, with the Government of Ghana in the lead. Budget Support accounts for around half of DFID spending. Sector wide support is focussed on health, education, water, rural livelihoods, public sector reform and public financial management. Ghana’s national policy of free compulsory universal basic education aims to provide 9 years of good quality schooling for all Ghanaian children – for which the UK has contributed £52m over a 5-year period.
POLITICS IN GHANAThe 1992 constitution introduced an executive presidential system, a 2-term limit to presidential tenure and a 200-member unicameral legislature (since increased to 230 in 2004). Rawlings created his own party, the NDC, out of the former revolutionary structures, and other parties were created or revived. In the subsequent presidential election of November 1992, Rawlings won with 58% of the vote. Four years later, in 1996, Rawlings again won the Presidency with 57% of the vote but the NDC was reduced to 133 seats.
Rawlings stepped down in 2000 and the current government of President Kufuor, of the opposition NPP, was elected, first in December 2000 (with 57% of second round votes) and again in December 2004 (with 53% of second round votes). In both legislative elections, the NPP won a majority of the seats leaving the NDC with a greatly reduced presence in Parliament. In December 2006 the losing candidate of the NDC party in 2000 and 2004, John Atta Mills, was again nominated by the NDC presidential candidate for the 2008 elections. In December 2007 the NPP nominated former Foreign Minister Nana Akuffo Addo as its candidate for the 2008 elections, after he beat his nearest rival Alan Kyeremanteng in the first round of party voting.
HUMAN RIGHTS IN GHANA
The Rawlings military regime of the 1980s saw significant human rights abuses. President Kufour’s government set up a National Reconciliation Commission in 2002 to hear cases of human rights abuses during the years of military rule. It heard 4,000 petitions. It reported in 2004. The human rights situation has been transformed for the better since the return to constitutional rule. Currently, Ghana’s record is good. There is an independent judiciary and free and active press. The death sentence remains on the statute books.
|
|
