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Cedi
The cedi ( ) (currency sign: GH₵; currency code: GHS) is the unit of currency of Ghana. It is the fourth historical and only current legal tender in the Republic of Ghana. One cedi is divided into one hundred pesewas (Gp). After independence Ghana separated itself from the British West African pound, which was the currency of the British colonies in the region. The new republic's first independent currency was the Ghanaian pound (1958–1965). In 1965, Ghana decided to leave the British colonial monetary system and adopt the widely accepted decimal system. The African name Cedi (1965–1967) was introduced in place of the old British pound system. Ghana's first President Dr. Kwame Nkrumah introduced Cedi notes and Pesewa coins in July 1965 to replace the Ghanaian pounds, shillings and pence. The cedi bore the portrait of the President and was equivalent to eight shillings and four pence (8s 4d), i.e. one hundred old pence, so that 1 pesewa was equal to one penny. After ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ghanaian Pound
The pound was the currency of Ghana between 1958 and 1965. It was subdivided into 20 shillings, each of 12 pence. Until 1958, Ghana used the British West African pound, after which it issued its own currency. In 1965, Ghana introduced the first ''cedi The cedi ( ) (currency sign: GH₵; currency code: GHS) is the unit of currency of Ghana. It is the fourth historical and only current legal tender in the Republic of Ghana. One cedi is divided into one hundred pesewas (Gp). After independenc ...'' at a rate of £1 = ₵2.40, i.e., ₵1 = 100d. Coins In 1958, Bronze coins were issued for d and 1d, along with cupro-nickel 3d and 6d, 1/– and 2/–. The 3d coin was scalloped in shape. Banknotes In 1958, banknotes were introduced in denominations of 10/–, £1 and £5. The £1 and £5 notes were produced until 1962 and the 10/– note was produced until 1963. See also * Economy of Ghana References * * External links {{Pound (currency) Currencies of the Commo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Liberation Council
The National Liberation Council (NLC) led the Ghanaian government from 24 February 1966 to 1 October 1969. The body emerged from a ''coup d'état'' against the Nkrumah government carried out jointly by the Ghana Police Service and Ghana Armed Forces with collaboration from the Ghana Civil Service. The plotters were well connected with the governments of Britain (under PM Harold Wilson) and the United States (then under Lyndon B. Johnson), who some believe approved of the coup because of Nkrumah's pro-communist foreign policy. The coup d'etat in its aftermath has been alleged to have been supported by the Central Intelligency Agency of the U.S.A."CIA helped depose Nkrumah, says ex-agent", ''Irish Times'', 10 May 1978.Seymour Hersh, "CIA Aid In Ghana Plot Told", ''Atlanta Constitution'', 9 May 1978. The new government implemented structural adjustment policies recommended by the International Monetary Fund (IMF) and World Bank. Money in the national budget shifted away fro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ghana
Ghana (; tw, Gaana, ee, Gana), officially the Republic of Ghana, is a country in West Africa. It abuts the Gulf of Guinea and the Atlantic Ocean to the south, sharing borders with Ivory Coast in Ghana–Ivory Coast border, the west, Burkina Faso in Burkina Faso–Ghana border, the north, and Togo in Ghana–Togo border, the east.Jackson, John G. (2001) ''Introduction to African Civilizations'', Citadel Press, p. 201, . Ghana covers an area of , spanning diverse biomes that range from coastal savannas to tropical rainforests. With nearly 31 million inhabitants (according to 2021 census), Ghana is the List of African countries by population, second-most populous country in West Africa, after Nigeria. The capital and List of cities in Ghana, largest city is Accra; other major cities are Kumasi, Tamale, Ghana, Tamale, and Sekondi-Takoradi. The first permanent state in present-day Ghana was the Bono state of the 11th century. Numerous kingdoms and empires emerged over the centuri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Ghana
The Bank of Ghana ( BoG) is the central bank of Ghana. It is located in Accra and was formed in 1957. The bank is active in developing financial inclusion policy and is a member of thAlliance for Financial Inclusion History The Central Bank of Ghana traces its roots to the Bank of the Gold Coast (BGC) or Ghana Commercial Bank, where it was nurtured. As soon as local politicians and economists saw political independence in sight in the mid-1950s the agitation for a central bank was revived. It was argued that a central bank was one institution which would give true meaning to political independence. It may be recalled that way back in 1947 some leading politicians had called for the establishment of a national bank with central bank functions to act as banker to government and to cater for the indigenous sector of the economy. Proposals of the advocates for a central bank were accepted and in early 1955 another select committee was set up by the government to take a new lo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ISO 4217
ISO 4217 is a standard published by the International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies and provides information about the relationships between individual currencies and their minor units. This data is published in three tables: * Table A.1 – ''Current currency & funds code list'' * Table A.2 – ''Current funds codes'' * Table A.3 – ''List of codes for historic denominations of currencies & funds'' The first edition of ISO 4217 was published in 1978. The tables, history and ongoing discussion are maintained by SIX Group on behalf of ISO and the Swiss Association for Standardization. The ISO 4217 code list is used in banking and business globally. In many countries, the ISO 4217 alpha codes for the more common currencies are so well known publicly that exchange rates published in newspapers or posted in banks use only these to delineate the currencies, instead of trans ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
West Africa
West Africa or Western Africa is the westernmost region of Africa. The United Nations defines Western Africa as the 16 countries of Benin, Burkina Faso, Cape Verde, The Gambia, Ghana, Guinea, Guinea-Bissau, Ivory Coast, Liberia, Mali, Mauritania, Niger, Nigeria, Senegal, Sierra Leone, and Togo, as well as Saint Helena, Ascension and Tristan da Cunha ( United Kingdom Overseas Territory).Paul R. Masson, Catherine Anne Pattillo, "Monetary union in West Africa (ECOWAS): is it desirable and how could it be achieved?" (Introduction). International Monetary Fund, 2001. The population of West Africa is estimated at about million people as of , and at 381,981,000 as of 2017, of which 189,672,000 are female and 192,309,000 male. The region is demographically and economically one of the fastest growing on the African continent. Early history in West Africa included a number of prominent regional powers that dominated different parts of both the coastal and internal trade networ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Underground Economy
A black market, underground economy, or shadow economy is a clandestine market or series of transactions that has some aspect of illegality or is characterized by noncompliance with an institutional set of rules. If the rule defines the set of goods and services whose production and distribution is prohibited by law, non-compliance with the rule constitutes a black market trade since the transaction itself is illegal. Parties engaging in the production or distribution of prohibited goods and services are members of the . Examples include the illegal drug trade, prostitution (where prohibited), illegal currency transactions, and human trafficking. Violations of the tax code involving income tax evasion in the . Because tax evasion or participation in a black market activity is illegal, participants attempt to hide their behavior from the government or regulatory authority. Cash is the preferred medium of exchange in illegal transactions since cash transactions are less-e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Akan Language
Akan () is a Central Tano languages, Central Tano language and the principal native language of the Akan people of Ghana, spoken over much of the southern half of Ghana. About 80% of Ghana's population can speak Akan, and about 44% of Ghanaians are native speakers. It is also spoken in parts of Ivory Coast, Côte d'Ivoire. Four dialects have been developed as literary standards with distinct Orthography, orthographies: Asante dialect, Asante, Akuapem dialect, Akuapem, Bono dialect, Bono (collectively known as Twi), and Fante dialect, Fante; which, despite being mutual intelligibility, mutually intelligible, were inaccessible in written form to speakers of the other standards until the Akan Orthography Committee (AOC)'s development of a common Akan orthography in 1978, based mainly on Akuapem dialect, Akuapem Twi. This unified orthography is used as the medium of instruction in primary school by speakers of several other Central Tano languages, such as Akyem, Anyin language, Anyi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decimalisation
Decimalisation or decimalization (see spelling differences) is the conversion of a system of currency or of weights and measures to units related by powers of 10. Most countries have decimalised their currencies, converting them from non-decimal sub-units to a decimal system, with one basic currency unit and sub-units that are to a power of 10, most commonly 100, and exceptionally 1000; and sometimes at the same time changing the name of the currency or the conversion rate to the new currency. Today, only two countries have non-decimal currencies: Mauritania, where 1 ouguiya = 5 khoums, and Madagascar, where 1 ariary = 5 iraimbilanja. However, these are only theoretically non-decimal, as, in both cases, the value of the main unit is so low that the sub-units are too small to be of any practical use and coins of the sub-units are no longer used. Russia was the first country to convert to a decimal currency when it decimalised under Tsar Peter the Great in 1704, resulting in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cowry
Cowrie or cowry () is the common name for a group of small to large sea snails, marine gastropod mollusks in the family Cypraeidae, the cowries. The term ''porcelain'' derives from the old Italian term for the cowrie shell (''porcellana'') due to their similar appearance. Shells of certain species have historically been used as currency in several parts of the world, as well as being used, in the past and present, very extensively in jewelry, and for other decorative and ceremonial purposes. The cowrie was the shell most widely used worldwide as shell money. It is most abundant in the Indian Ocean, and was collected in the Maldive Islands, in Sri Lanka, along the Indian Malabar coast, in Borneo and on other East Indian islands, in Maluku in the Pacific, and in various parts of the African coast from Ras Hafun to Mozambique. Cowrie shell money was important in the trade networks of Africa, South Asia, and East Asia. In the United States and Mexico, cowrie species inhab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Colonialism
Colonialism is a practice or policy of control by one people or power over other people or areas, often by establishing colonies and generally with the aim of economic dominance. In the process of colonisation, colonisers may impose their religion, language, economics, and other cultural practices. The foreign administrators rule the territory in pursuit of their interests, seeking to benefit from the colonised region's people and resources. It is associated with but distinct from imperialism. Though colonialism has existed since ancient times, the concept is most strongly associated with the European colonial period starting with the 15th century when some European states established colonising empires. At first, European colonising countries followed policies of mercantilism, aiming to strengthen the home-country economy, so agreements usually restricted the colony to trading only with the metropole (mother country). By the mid-19th century, the British Empire gave up ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
£sd
£sd (occasionally written Lsd, spoken as "pounds, shillings and pence" or pronounced ) is the popular name for the pre-decimal currencies once common throughout Europe, especially in the British Isles and hence in several countries of the British Empire and subsequently the Commonwealth. The abbreviation originates from the Latin currency denominations '' librae'', '' solidi'', and '' denarii''. In the United Kingdom, these were referred to as '' pounds'', '' shillings'', and '' pence'' (''pence'' being the plural of ''penny''). Although the names originated from popular coins in the classical Roman Empire, their definitions and the ratios between them were introduced and imposed across Western Europe by the Emperor Charlemagne. The £sd system was the standard across much of the European continent (France, Italy, Germany, etc.) for nearly a thousand years, until the decimalisations of the 18th and 19th centuries. As the United Kingdom remained one of the few countries r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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