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Ghana's industrial base is relatively advanced. Import-substitution industries include electronics manufacturing. Rlg Communications is the first indigenous African company to assemble laptops, desktops, and mobile phones, and is West Africa's biggest information and communications technology (ICT) and mobile phone manufacturing company.
Ghana was the world's leading producer of cocoa, boasted a well-developed infrastructure to service trade, and enjoyed a relatively advanced education system. [1] At independence, President Kwame Nkrumah sought to use the apparent stability of the Ghanaian economy as a springboard for economic diversification and expansion. [ 1 ]
The report is historically important for having marked a shift in African countries’ economic policies towards economic liberalization.It details several policy recommendations in its plan for action, including “(1) more suitable trade and exchange-rate policies; (2) increased efficiency of resource use in the public sector; and (3) improvement in agriculture policies.” [1] In terms of ...
On October 6, 2011, Shanta Devarajan, World Bank economist, penned a blog post titled Africa's statistical tragedy, a wordplay on Easterly and Levine's classic Africa's Growth Tragedy. [ 4 ] [ 9 ] In the post, Devarajan noted that the absence of high-quality statistical data hampered Africa, development economists and international institutions ...
In 2008, the World Bank estimated that Accra's economy only constituted around US$3 billion of Ghana's total gross domestic product (GDP). [48] The economically active population of Accra is estimated to be 823,327. Accra Central, Accra, Ghana. Accra is a centre for manufacturing, marketing, finance, insurance, and transportation.
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Ghana's economy is one of the strongest and most diversified in Africa, following a quarter-century of relative stability and good governance. [2] Ghana's growing economic prosperity and democratic political system have made it a regional power in West Africa.
The World Bank strongly advised Ghana to drastically improve its transportation to improve its agriculture and economy. [40] According to David Asare Asiamah (founder and CEO of AgroMindest), "Most of the farm produce just go to waste in the remote areas because farmers find it difficult transporting their farm produce to the market to sell.