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location: WEST AFRICA / bordering Côte D’Ivoire, Burkina Faso, Togo, and Gulf of Guinea.

capital: Accra, population 3.1 million (13% of the total), although Kumasi, population 1.5 million is an important second city, with its own Gold reserves and Agricultural resources.

population: 24 million.

languages: English (official) and 9 sponsored languages.

religion: Christian, Muslim, Traditional.

currency: Ghanaian New Cedi (GHS)

  

 


HISTORICAL BACKGROUND:

Ghana gained independence from the UK in 1957. Incoming President Kwame Nkrumah implemented reforms and promoted pan-African ideals. However, the mounting cost of these and the drift towards an authoritarian state meant increasing opposition, culminating in a coup in 1966, followed by a period of instability lasting until 1981. This was followed by the generally benign dictatorship of Jerry Rawlings, which migrated towards democratic elections in 1992. While his party, the National Democratic Congress, won elections in 1992, 1996 and most recently in 2009 (the New Patriotic Party served in between), Ghana is now regarded as a stable democracy.

POPULATION, LANGUAGE & RELIGION:

The official language is English, although there are also 9 sponsored languages and some 240 unofficial languages. The total population amounts to 24 million people, with the main components being the Akan (49%), the Mole-Dagbon (15%), and the Ewe (12%). Ghana is primarily Christian (69%) with Muslim (16%) and Traditional (9%) minorities.

CRIME & CORRUPTION RANKINGS:

Governance 7th,
Press Freedom 27th,
Corruption 69th,
Property Rights n/a

ECONOMY:

Nominal GDP for 2009 is estimated to be USD 15 billion, equivalent to USD 650 per capita, with a Gini coefficient of c.0.37. Agriculture is the backbone of the economy accounting for approximately half of GDP, while Gold is an important resource for the export market. Ghana is ranked 5th in sub-Saharan Africa in terms of ease of doing business, with good scores in investor protection and contract enforcement.

NATURAL & AGRICULTURAL RESOURCES:

Gold, cocoa, timber, electricity, diamonds, bauxite and manganese. The Jubilee oil field is expected to yield 120 thousand bbpd from 4Q2010, enough to boost exports by 20%, with a life of 41 years. Ghana has extensive access to water from Lake Volta, and the White and Black Volta River systems. Mean average rainfall is around 1,187 mm per annum, although external water sources provide a further 954 cubic metres per capita. This provides 10 million hectares of cultivable land, or 0.42 hectares per capita.

INTERNATIONAL INFLUENCE:

Regionally, Ghana is part of the Economic Community of West African States (Ecowas) and also the Accra-based West African Monetary Zone (WAMZ). Chinese involvement has been rising, but the UK, US and South Africa currently have longer-established relations.