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Ghana

Yearbook 1999

Ghana. According to Countryaah official website, the nation was shaken when the mainstay of the country's economy, Ashanti Goldfields, suffered an acute economic crisis and risked being bought by the British mining company Lonmin. Ashanti Goldfields, one of Africa's largest companies and 20% owned by the Ghanaian state, lost hundreds of millions of dollars on failed speculation in the price of gold. When the price dropped during the summer, the company sold its future production at a fixed price to guard against continued fall. Instead, the gold price rose by more than 15% in September. The company already had a debt of $ 270 million to 17 banks. Ashanti Goldfields was given a three-year deadline in October with debt restructuring.

1999 Ghana

For the government, Ashanti Goldfield's crisis and projections of generally deteriorating government finances came at the most inconvenient before the 2000 parliamentary elections, when the National Democratic Congress party (NDC) will try to retain power without its leader Jerry Rawlings, who according to the constitution has to leave the presidential post. In the countdown to the election, the NDC split when a faction broke out and formed the National Reform Party.

King Opoku Ware II of Ashanti, one of Africa's most culturally prominent traditional kingdoms, passed away in February. He was succeeded by businessman Barima Kweku Duah, who adopted the royal name Osei Tutu II.

Ghana - Accra

Accra

Aʹccra, capital and largest city in Ghana, West Africa; 2. 3 million residents (2012). Accra, located on the Gulf of Guinea, is the country's administrative and financial center, as well as its most important commercial and educational center. Together with the modern port city of Tema, 25 km east of Accra, the city forms a metropolitan area with 3. 3 million residents.

Accra's industry mainly comprises food and textile companies and sawmills. In Tema there is iron and steel production and oil refinery. Accra has a rail connection to the inland and international airport (Kotoka). cocoa, copra, palm oil, timber, gold, manganese and diamonds. The city has a university (founded 1948).

Accra grew up around three fortified forts, erected by Dutch, English and Danes in the 17th century, when the slave trade flourished. In 1877, Accra became the capital of the British colony of the Gold Coast.

 

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