Official Name-: Republic of Ghana
Form Of Government: Unitary multiparty republic with one legislative house( House of Parliament.
Head of state and government: President Atta Mills (2009)
Official language : English. Official Religion: None. Monetary unit: 1 Ghana cedi (GHc) = 100 pesewas; valuation ( 1 Jul 2008) US $1= GHc 10,945.00 ( the Ghana cedi replaced the cedi [c] 1 Jul 2007, at the rate of GHc = c10,000).
Total active duty personnel (2006): 7,000 (army 71.4%, navy 14.3%, air force 14.3%). Military expenditure as percentage of GDP (2005): 0.7%; per capita expenditure US$4.
The modern state of Ghana is named after the ancient Ghana empire that flourished until the 13th century AD in the western Sudan, about 500 mi (800 km) northwest of the modern state. The Akan peoples then founded their first states in modern Ghana. Gold-seeking Mande traders arrived by the 14th century, and Hausa merchants arrived by the 16th century. During the 15th century the Mande founded the states of Dagomba and Mamprussi in the northern half of the region. The Ashanti, an Akan people, originated in the central forest region and formed a strongly centralized empire that was at its height in the 18th and 19th centuries. European exploration of the region began early in the 15th century, when the Portuguese landed on the Gold Coast; they later established a settlement at Elmina as headquarters for the slave trade. By the mid-18th century the Gold Coast was dominated by numerous forts controlled by Dutch, British, and Danish merchants. Britain made the Gold Coast a crown colony in 1874, and British protectorates over the Ashanti and the northern territories were established in 1901. In 1957 the Gold Coast became the independent state of Ghana.
In June 2007 the British firm Tullow Oil announced the discovery of a major new oil field offshore from Ghana, with reserves estimated at 600 million bbl. Company officials cautioned that it would take up to seven years before the oil field was operational. Nevertheless, Pres. John Kufuor enthused that this find would transform the country into an “African tiger.” For those who feared that Ghana would mismanage its future oil wealth, Kufuor assured them that Accra’s economy would remain robust even without oil revenue.