Table of Contents
What were the advantages of the location of Ghana?
*Strategic and central location within West Africa provides access to the ECOWAS market with an estimated population of 400million. *With the headquarter of the African Continental Free Trade Agreement (AfCFTA) in Accra, Ghana has become the Commercial capital of Africa with access to an estimated 1.2 billion People.
Why is Ghana important to Africa?
Although relatively small in area and population, Ghana is one of the leading countries of Africa, partly because of its considerable natural wealth and partly because it was the first black African country south of the Sahara to achieve independence from colonial rule. …
How did ancient Ghana affect Africa?
Rapidly growing trade brought a lot of wealth and power to West Africa, just as the Ghana Empire was getting its start. The Ghana Empire, in particular, grew rich from the trans-Sahara trade. It certainly helped that the empire had control over the three major gold fields to the south of them.
What made Ghana important?
At its peak, Ghana was chiefly bartering gold, ivory, and slaves for salt from Arabs and horses, cloth, swords, and books from North Africans and Europeans. As salt was worth its weight in gold, and gold was so abundant in the kingdom, Ghana achieved much of its wealth through trade with the Arabs.
Is Ghana a peaceful country?
Ghana ranks second as the most peaceful country in Africa and 38th in the world.
What caused the downfall of Ghana 5 points?
The Ghana Empire crumbled from the 12th century CE following drought, civil wars, the opening up of trade routes elsewhere, and the rise of the Sosso Kingdom (c. 1180-1235 CE) and then the Mali Empire (1240-1645 CE).
What are the advantages of mobile money in Ghana?
MTN Ghana advertises that mobile money is a fast, simple, convenient, secure and affordable way of transferring money, making payments and doing other transactions using a mobile phone. Allotey (2016) reported that much has been speculated with regards to the benefits of mobile money in Ghana’s economy.
Can you use a mobile phone in Ghana?
It can be used on both smartphones and basic feature phones. MTN Ghana advertises that mobile money is a fast, simple, convenient, secure and affordable way of transferring money, making payments and doing other transactions using a mobile phone.
What are the advantages and disadvantages of money transfer?
However, money transfer requires an effective, affordable and reliable money transfer service which ensures that money can be deposited in one location and withdrawn in another in both urban and rural areas.
What are the advantages and disadvantages of banking?
Amadeo (2016) further explains that, banking is one of the key drivers of a county’s economy. Banks provides a safety for saving excess cash called deposits. Banks lend up to 90% of the deposit received as loans. They pay less interest rate on the deposits received and charge high interest rates on loans.