In 1482, 11 years after the Portuguese stepped foot on the Gold Coast, they built the castle of Elmina – the first European settlement on the coast. From here they traded slaves, gold, knives, beads, mirrors, rum and guns. The news of the settlement travelled far and wide. In no time the English, Dutch, Danish, Prussians and Swedish traders had like the Fulani nomads constantly looking for lurch areas invaded the coast with their forts. The Gold Coast became known for the enormous trading activities that took place along its shores.  In 1873 British influence over the Gold Coast increased further when it purchased the Castle of Elmina and subsequently in the 20^th century assumed full colonial powers of the area. With colonialism came imperialism as such, the traditional social order of groups in the Gold Coast bound together by kinship started changing into one  in which individuals were linked principally by economic ties. More than anything else this economic link was fostered by the great development of the Ghanaian

economy following the rapid expansion of cocoa growing by farmers in the forest. The cocoa tree and its seeds were introduced in the 1870s. By the 1920s the Gold Coast, while continuing to export some gold was producing more than half of the world’s supply of cocoa; timber and manganese later became the additional exports of note. With the wealth created by this great increase of trade, it was possible to provide modern transport facilities – harbours, railways, roads - and social services, especially education (to the university level) this was the foundation of contemporary Ghana.

Today, Ghana is the second largest producer of Gold in the world. In Africa, it is ranked third in the production of aluminum metal and manganese ore. The government plans to take the country to middle level income per capita of $1000 by the year 2015, from the current $400. The toast of Bretton – Woods Institution, substantial amount of funds is obtained from international donor agencies and friendly governments. Ghana signed up to the Highly Indebted Poor Country Initiative in 2001 and having reached the completion point of the programme, benefits annually from the approximately $230 million in debt relief service. In August 2006, Ghana qualified for funds totaling $547 millions from the United States Millennium Challenge Corporation. Over a five year period, these funds will be utilized for purposes ranging from agricultural aid to rural development.

Agriculture is the mainstay of Ghana’s economy and currently contributes about 47% of the Gross Domestic Product (GDP). Apart from Cocoa, its other agricultural exports include pine apples, bananas, tobacco, cola nuts, oil palm, rubber, coffee and cashew nuts. Ghana’s forests cover about a third of the total land area of the country though not all of it is suitable for commercial exploitation. Logging and timber exports however provide much needed income to boost the economy. In appreciation of the hard work of Ghana’s farmer’s and fishermen, the first Friday of December is set aside as farmer’s day and is marked as a public holiday. Award ceremonies are held at the District, Regional and National levels with the President usually attending the National ceremony.

In the industrial sector, Ghana’s strength is in the mining sub sector particularly mining for diamonds and gold. This is a major foreign exchange earner. This sector is today made up of Mining and Quarrying, Manufacturing, Electricity Generation, Water and Construction sub-sector – all accounting for 22.1% share of the GDP.

Described as ‘ a golden experience at the centre of the world, a bird watcher’s paradise, an eco-tourist’s haven, a cultural delight, a heritage lover’s passion, and an adventurer’s dream’, Ghana’s foreign exchange earning from tourism is on the increase. The Elmina Castle, Cape coast Castle and Fort St. Jago have been designated World Heritage Monuments by UNESCO. They are the oldest buildings outside Europe.  At Kakum National Park, there is a canopy walkway that takes visitors 30-meters high above the rainforest. Mole National Park is ideal for safaris and wildlife. It equally has a motel and viewing platform with panoramic views. Indeed it is a beautiful country!

AKWAABA!

RECENT INTERNATIONAL RECOGNITIONS

*ghana is rated the most peaceful nation in Africa

* ghana has a B+ Sovereign credit rating

* ghana is ranked the fastest reforming nation on the continent

* ghana is ranked the 8^th best nation in Africa for doing business  

GHANA (FACTS)

 Ref.:

Ghana. (2008) In Encyclopedia Britannica. Retrieved May 3, 2008

                From Britannica Online: http://www.britannica.com/eb.article-76829

Adjei, A.A.(2007) Ghana at 50