Currency & Politics

Political

Following independence from British colonial rule in 1957, the country moved to become a republic in 1960 and an initial decade guided by Ghana’s legendary first president, Dr. Kwame Nkrumah, the country suffered a period of instability with a series of governments falling to military uprisings.

In 1992, the country moved into an era of constitutional system of governance and successfully handed over power from one political party to the other in the year 2000.

Democracy is thriving in Ghana. The system of governance is a multi-party democracy founded on open and free elections whereby the president has a four year term with an incumbent serving a maximum of two terms.

The judicial system in Ghana is based on the British model and the judiciary is independent from the Executive.

Ghana is a member of the New International Partnership for Africa’s Development (NEPAD) where it has acceded to the African Peer Review Mechanism (APRM), the first country to undergo this comprehensive review of its system of governance.

Currency

The Ghana Cedi (GH¢) is the currency used in Ghana.

Information on exchange rate can be obtained from any of the Ghanaian banks. However, more information is available at the website for the: http://www.ghanacedi.gov.gh/

Banking and Finance

The Bank of Ghana is the central bank and its mission is to pursue sound monetary and financial policies aimed at price stability and create an enabling environment for sustainable economic growth. It also supervises the activities of the other banks.

There are several Commercial banks, Development banks, Merchant banks and a lot offinancial institutions in the country

For more info see www.bog.gov.gh