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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 t ... [...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 from a ... [...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 the west, Burkina Faso in the north, and Togo in 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 centuries, of which the most powerful were the Kingdom of Dagbon in the north and ... [...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 networks, suc ... [...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 loo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currency
A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound Sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$)) are examples of (government-issued) fiat currencies. Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance - i.e. legal tender laws may require a particular unit of account for payments to government agencies. Other definitions of the term "curren ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Banks And Currencies Of Africa
There are two African currency unions associated with multinational central banks; the West African Banque Centrale des États de l'Afrique de l'Ouest (BCEAO) and the Central African Banque des États de l'Afrique Centrale (BEAC). Members of both currency unions use the CFA Franc as their legal tender. Below is a list of the central banks and currencies of Africa. See also * Africa * Economy of Africa * List of African countries by GDP (nominal) * List of African stock exchanges * List of currencies in Africa African currency was originally formed from basic items, materials, animals and even people available in the locality to create a medium of exchange. This started to change from the 17th century onwards, as European colonial powers introduced thei ... References World Economic Outlook Database, October 2012 International Monetary Fund. Accessed on October 10, 2013. {{DEFAULTSORT:Central Banks And Currencies Of Africa Africa-related lists Currencies of Africa [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pound Sterling
Sterling (abbreviation: stg; Other spelling styles, such as STG and Stg, are also seen. ISO code: GBP) is the currency of the United Kingdom and nine of its associated territories. The pound ( sign: £) is the main unit of sterling, and the word "pound" is also used to refer to the British currency generally, often qualified in international contexts as the British pound or the pound sterling. Sterling is the world's oldest currency that is still in use and that has been in continuous use since its inception. It is currently the fourth most-traded currency in the foreign exchange market, after the United States dollar, the euro, and the Japanese yen. Together with those three currencies and Renminbi, it forms the basket of currencies which calculate the value of IMF special drawing rights. As of mid-2021, sterling is also the fourth most-held reserve currency in global reserves. The Bank of England is the central bank for sterling, issuing its own banknotes, and ... [...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 the ru ... [...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, ocean, marine Gastropoda, gastropod Mollusca, mollusks in the family Cypraeidae, the cowries. The term ''porcelain'' derives from the old Italian language, 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 Islands, 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. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arabs
The Arabs (singular: Arab; singular ar, عَرَبِيٌّ, DIN 31635: , , plural ar, عَرَب, DIN 31635, DIN 31635: , Arabic pronunciation: ), also known as the Arab people, are an ethnic group mainly inhabiting the Arab world in Western Asia, North Africa, the Horn of Africa, and the western List of islands in the Indian Ocean, Indian Ocean islands (including the Comoros). An Arab diaspora is also present around the world in significant numbers, most notably in the Americas, Western Europe, Arabs in Turkey, Turkey, Arab Indonesians, Indonesia, and Iranian Arabs, Iran. In modern usage, the term "Arab" tends to refer to those who both Arab identity, carry that ethnic identity and speak Arabic as their native language. This contrasts with the narrower traditional definition, which refers to the descendants of the tribes of Arabia. The religion of Islam was developed in Arabia, and Classical Arabic serves as the language of Islamic literature. 93 percent of Arabs are Muslims ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Porcelain
Porcelain () is a ceramic material made by heating substances, generally including materials such as kaolinite, in a kiln to temperatures between . The strength and translucence of porcelain, relative to other types of pottery, arises mainly from vitrification and formation of the mineral mullite within the body at these high temperatures. Though definitions vary, porcelain can be divided into three main categories: hard-paste, soft-paste, and bone china. The category that an object belongs to depends on the composition of the paste used to make the body of the porcelain object and the firing conditions. Porcelain slowly evolved in China and was finally achieved (depending on the definition used) at some point about 2,000 to 1,200 years ago; it slowly spread to other East Asian countries, then to Europe, and eventually to the rest of the world. Its manufacturing process is more demanding than that for earthenware and stoneware, the two other main types of pottery, and it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indian Ocean
The Indian Ocean is the third-largest of the world's five oceanic divisions, covering or ~19.8% of the water on Earth's surface. It is bounded by Asia to the north, Africa to the west and Australia to the east. To the south it is bounded by the Southern Ocean or Antarctica, depending on the definition in use. Along its core, the Indian Ocean has some large marginal or regional seas such as the Arabian Sea, Laccadive Sea, Bay of Bengal, and Andaman Sea. Etymology The Indian Ocean has been known by its present name since at least 1515 when the Latin form ''Oceanus Orientalis Indicus'' ("Indian Eastern Ocean") is attested, named after Indian subcontinent, India, which projects into it. It was earlier known as the ''Eastern Ocean'', a term that was still in use during the mid-18th century (see map), as opposed to the ''Western Ocean'' (Atlantic Ocean, Atlantic) before the Pacific Ocean, Pacific was surmised. Conversely, Ming treasure voyages, Chinese explorers in the Indian Oce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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