APIIT SD INDIA

Business environment
ABUS001-3-1

Group Assignment GHANA PEST ANALYSIS Date Due 15th Nov. 2008
SUBMITTED BY: Pargat Singh (Group Leader) Pt0881158 Vishal Agarwal Abhishek Kumar Jha Pt0881137 Pt0881155 SUBMITTED TO: Dr. Rekha Sharma

BUSINESS ENVIRONMENT

Group Assignment

Kumar Rajiv Ranjan

Pt0881104

BUSINESS ENVIRONMENT

Group Assignment

ACKNOWLEDGMENT
It is our pleasure to be able to thank all those people who helped us in making our assignment a success. First of all, we want to thank our Business Environment Lecturer Dr. Rekha Sharma who guided us very well. She has given us the required guidance as and when we have approached her. We also want to thank our colleges literary attaindent sir Mr. Rajneesh who provided us each and every book we demanded. Pargat Singh (Group Leader) Vishal Agarwal Abhishek Kumar Jha Kumar Rajiv Ranjan Pt0881158 Pt0881137 Pt0881155 Pt0881104

BUSINESS ENVIRONMENT

Group Assignment

TABLE OF CONTENT

Topics

Page No.

1. INTRODUCTION ..4 2. POLITICAL ANALYSIS....6 3. ECONOMICAL ANALYSIS.10 4. SOCIAL ANALYSIS.16 5. TECHNOLOGICAL ANALYSIS. 19 6. CONCLUSION...23 7. REFERENCES24 8. PICTURE REFERENCES.. .. .25

BUSINESS ENVIRONMENT

Group Assignment

INTRODUCTION
Geography

Ghana is a small country of African Continent situated at western Africa. It is surrounded by Cote d'Ivoire, Burkina Faso and Togo in west, north and east respectively. It also has a coastline of 539km with Gulf of Guinea in south. It acquires total area of 239,460 sq km. Ghana has mostly low plains with dissected plateau in south-central area. Being only a few degrees north of the equator Ghanas climate is tropical in nature which is warm and comparatively dry along southeast coast; hot and humid in southwest; hot and dry in north. Lake Volta, the world's largest artificial lake, extends through large portions of eastern Ghana. Accra, the most populated city, is the capital of Ghana (The World Factbook)

BUSINESS ENVIRONMENT

Group Assignment Half of the country lies less than 152 meters (500 ft.) above sea level, and the highest point is 883 meters (2,900 ft.). The 537-kilometer (334-mi.) coastline is mostly a low, sandy shore backed by plains and scrub and intersected by several rivers and streams, most of which are navigable only by

canoe. A tropical rain forest belt, broken by heavily forested hills and many streams and rivers, extends northward from the shore, near the Cote d'Ivoire frontier. This area produces most of the country's cocoa, minerals, and timber. North of this belt, the country varies from 91 to 396 meters (300 ft.-1,300 ft.) above sea level and is covered by low bush, park-like savanna, and grassy plains. Annual rainfall in the coastal zone averages 83 centimeters.
Aburi hills

Back ground Ghana was formed in 1957 from the merger of the British colony of the Gold Coast and the Togoland trust territory. It was the first sub-Saharan country in colonial Africa to gain its independence. Modern Ghana takes its name from the ancient kingdom of Ghana, some 800 km (500 miles) to the north of present-day Accra, which flourished up to the eleventh century AD. Ghana endured a long series of coups before Lt. Jerry RAWLINGS took power in 1981 and banned political parties. In 1992 new constitution was approved and multiparty politics were restored. RAWLINGS won presidential elections in 1992 and 1996, but was constitutionally prevented from running for a third term in 2000. John KUFUOR succeeded him and was reelected in 2004. KUFUOR is constitutionally barred from running for a third term in upcoming Presidential elections, which are scheduled for December 2008. In recent years, Ghana has emerged as a major importer of goods from countries all over the world. Ghana has established itself as one of the prime business centers in the West African region and has earned the reputation of being the leading distribution centre of the region.

BUSINESS ENVIRONMENT

Group Assignment

POLITICAL ANALYSIS
Ghana has faced many ups and down in its political environment. After getting independence from British Empire in 1957, many alternating military and civilian governments have ruled over it. The major political parties are: National Democratic Congress New Patriotic Party People's National Convention People's Convention Party Political highlights 1957 - independence, Nkrumah of CPP is PM, 2 key parties 1960 - declared republic, one party system, presidential system 1966 - military overthrow of 1st republic 1969 - 2nd republic, Busia of PP is PM, 2 key parties 1972 - military overthrow of 2nd republic 1978 - palace coup to restructure military government 1979 - junior officer uprising and military housecleaning 1979 - ushered third republic, Limann of PNP is President, 3 parties 1981 - overthrow of the constitutional PNP gov't by the PNDC military junta 1983 - Attempted overthrow of the PNDC junta by other junior army men 1992 - Rawlings of NDC is Dem elected as President, 2 parties1 1996 - Rawlings of NDC is re-elected, 2 parties 2001 - Kuffour (NPP) is President 2005 - Kufuor begins second-term in office Government type Administrative Divisions Constitutional democracy Ashanti, Brong-Ahafo, Central, Eastern, Greater Accra, Northern, Upper East, Upper West, Volta, Western
1

Fraud allegations led to an electoral boycott resulting in an effective one party system. Also, marks the first time when the head of a military regime had contested in an election.

BUSINESS ENVIRONMENT

Group Assignment

Political Stability
Ghana offers a relatively stable and predictable political environment for investors. There is no indication at present that the level of political risk in Ghana will change markedly over the near term. Peaceful and fair presidential and parliamentary elections were held on December 7, 2004. Incumbent President, John Agyekum Kufuor of the National Patriotic Party, was reelected for a second four-year term, marking a fourth consecutive democratic election. {The World Factbook} Irrespective of the politically unstable past, currently political environment of Ghana seems much stable. Ghana has shown stable political environment for over 2 decades with
John Agyekum Kufuor

Multi-Party Democracy since 1992. Now the political parties have became more mature. They are now finding new ways to help trade and business in Ghana and hence help its economy to get new heights. Current Ruling Political Leaders President Vice President Min. of Trade, Industry, & Private Sector Development Min. of Finance & Economic Planning Kwadwo Baah-Wiredu John Agyekum Kufuor Alhaji Aliu Mahama Joseph Baidoe-Ansah

BUSINESS ENVIRONMENT

Group Assignment

Trade Regulations and Tariffs

The trade regulation and tariffs impose by government could strongly influence the international trade of that particular country. The governments of countries of West Africa including Ghana are working towards achieving monetary and currency integration by introducing a common currency called Ecoi throughout the West African Monetary Zone (WAMZ). The common currency will be initially introduced in the member countries of the West African Monetary Zone (WAMZ). These countries include Ghana, Nigeria, Sierra Leone, Gambia, Guinea and Liberia and the Union Monetaire Iovest Africaine (UMOA) countries made up of Benin, Togo, Cote d'Ivoire, Niger, Mauritania, Senegal, Burkina Faso, and
Headquarters ECOWAS

Mali. By integrating the two blocs of UMOA and WAMZ, the

west African countries are looking to form a trade bloc that could have a bigger say in international markets and promote a better economic outlook for the entire region. The first step towards the economic integration of West Africa was taken in 1975 when Economic Community of West African States (ECOWAS) was established. Currently Ghanas President is the chairman of ECOWAS. {Common currency for west Africa} By having a common economy Ghana can help better in flourishing its trade and business. Integration of the economies of West African countries, will lead to the creation of a single regional market. Obviously the trade regulations and tariffs applied on international business will lower down or can even disappear. The integration will strengthen the economic stability via increased trade exchanges and new opportunities for external investment.

BUSINESS ENVIRONMENT

Group Assignment

Pricing Regulation
Although the economic policy conducted by the authorities is generally based on free market principles, the Minister of Economy in Ghana still intervenes in price-fixing for some sectors of the economy. Actually this intervention is necessary when competition cannot work optimally in the sectors concerned or when these sectors have a strong social dimension. In Ghana, the Public Utilities Regulatory Commission (PURC) is set-up by government to deal with tariff issues and price regulations. The Ghanian government also considers about rights of investors along with consumers while fixing the prices of goods.

Wage legislation
In wage legislation government sets a minimum hourly, daily, or monthly wage that employers may legally pay to employees or workers. Equivalently, it is the lowest wage at which workers may sell their labor. Most developing countries have minimum wage laws which, in principle, guarantee low-skilled workers a wage high enough to cover their basis needs. Ghana joined the International Labour Organization in 1957 and immediately the Convention Peoples Party (CPP) Government ratified many of the ILO Conventions including minimum wage fixing. The National Daily Minimum Wage has gone up from its pre 13,500 cedis a day to 16,000 cedis, about 18.51 per cent and takes effect from March 1, 2006 {Minimum wage goes up}

10

BUSINESS ENVIRONMENT

Group Assignment

ECONOMIC ANALYSIS
Ghana is well endowed with natural resources. It has twice the per capita output of the poorer countries in West Africa. The economy of Ghana, West Africa has a diverse and rich resource base, and as such, has one of the highest GDP per capita in Africa. Ghana remains somewhat dependent on international financial Since this African country is known as the ground of diamond so there are too many sources of foreign exchange.Gold,timber, cocoa, diamond, bauxite, and manganese, exports are major sources of foreign exchange. An oilfield which is reported to contain up to 3 billion barrels (480,000,000 m3) of light oil was discovered in 2007.Oil exploration is ongoing and, the amount of oil continues to increase. The domestic economy continues to revolve around subsistence agriculture, which accounts for 50% of GDP and employs 85% of the work force, mainly small landholders. Ghana made progress under a three-year structural adjustment program in cooperation with the IMF. On the negative side, public sector wage increases and regional peacekeeping commitments have led to continued inflationary deficit financing, depreciation of the Cedi, and rising public discontent with Ghana's austerity measures.. Political uncertainty and a depressed cocoa market led to disappointing growth in 2000. A rebound in the cocoa market should push growth over 4% in 2001-02. Even so, Ghana remains one of the more economically sound countries in all of Africa.

Currency Valuation:
The country has since July, 2007, embarked on a currency re-denomination exercise, from Cedi () to the new currency, the Ghana Cedi (GH). The transfer rate is 1 Ghana Cedi for every 10,000 Cedis. The Bank of Ghana has embarked upon an aggressive media campaign to educate the public about what re-denomination entails. The new Ghana Cedi is now exchanging at a rate of $1 USD =Gh 0.93 1 cedi (C) = 100 pesewas

11

BUSINESS ENVIRONMENT

Group Assignment

Exchange Rates
Cedis per US dollar - 6,895.77 (January 2001), 5,321.68 (2000), 2,647.32 (1999), 2,314.15 (1998), 2,050.17 (1997), 1,637.23 (1996) ; Depreciation: 4.7% against the US dollar (2003)

Value Added Tax

It is a consumption tax administered in Ghana. The tax regime which started in 1998 had a single rate but since September 2007 entered into a multiple rate regime. In 1998, the rate of tax was 10% and amended in 2000 to 12.5%. However with the passage of Act 734 of 2007, a 3% VAT Flat Rate Scheme (VFRS) began to operate for the retail distribution sector. This allows retailers of taxable goods under Act 546 to charge a marginal 3% on their sales and account on same to the VAT Service

Unemployment Rate
Ghana is endowed with enormous human and material resources but these resources have not been optimally utilized. Ghanaian employers normally complain about the quality of recent graduates while the graduates complain of lack of jobs. These human resources have not been adequately channeled to profitable investments to bring about maximum economic benefits. As a result, Ghana has been bedeviled with unemployment and poverty. According to world face book Ghana's unemployment rate currently stands at 20 percent, the 2008.The economic growth rate of Ghana has not always been accompanied by decline in unemployment and poverty as would be expected.

12

BUSINESS ENVIRONMENT

Group Assignment

CHART OF UNEMPLOYMENT RATE

Year 200 3 200 4 200 5 2006 2007 2008

Unemployment rate 20.00 % 20.00 % 20.00 % 20.00 % 20.00 %

Rank 48 46 150 159 160

Percent Change

Date of Information 1997

0.00 % 0.00 % 0.00 % 0.00 %

1997 1997 1997 1997 2000

11.00 % 127 -45.00 % { Unemployment rate rises }

Inflation Rate
The Inflation rate of Ghana had declined steadily, particularly over the last decade. Ghana's poverty rate has also come down markedly; from 51.7%.It means that government is trying to make the best environment to manage its economy through the combined actions of fiscal and monetary policies.

Year Inflation rate (consumer prices) Rank Percent Change Date of Information 200 3 200 4 200 5 200 6 200 7 200 14.50 % 26.70 % 13.00 % 15.10 % 10.90 % 11.00 % 22 9 206 210 193 196 84.14 % -51.31 % 16.15 % -27.81 % 0.92 % 2002 est. 2003 est. 2004 est. 2005 est. 2006 est. 2007 est.

13

BUSINESS ENVIRONMENT 8

Group Assignment

Economic Growth Rate

GDP: $5.9 billion (2002) GDP per Capita: $1,980 (2002) GDP Growth rate: 5.2 (2004 by Gov't) GNP/Capita: $1,900 (2000 est.) -A measure of per capita income that takes GDP - composition by sector: : agriculture: 36% industry: 25% services: 39% Income per capita: US$290 (2002) Income per capita growth: 1.3 (1999-2000) Gross national income: 6.6 billion (ranking 102)

into account relative purchasing power across countries. (2000 est.)

Year 1998 199 9 200 0 200 1 200 2 200 3

Gross domestic product based on purchasing-power-parity (PPP) per capita GDP 922.132 952.556

Percent Change 3.21 % 3.30 %

984.509

3.35 %

1024.13

4.02 %

1062.26

3.72 %

1113.311

4.81 %

14

BUSINESS ENVIRONMENT

Group Assignment

200 4 200 5 2006 2007 2008

1176.443

5.67 %

1251.441 1338.936 1426.076 1515.674

6.37 % 6.99 % 6.51 % 6.28 %

Trade
Exports: US$2,297.2 million (2003); US$1,867.1m (2001); US$2,015.2m Partners: Germany 29%, UK 12%, US 12%, Japan 5% --

(2002) Commodities: cocoa 45%, gold, timber, tuna, bauxite, and aluminum

Imports: US$2.83bn (2002) Commodities: petroleum 16%, consumer goods,foods,intermediate goods, Partners: UK 23%, US 11%, Germany 10%, Japan 6%

capital equipment

Electricity
Production: 5.466 billion kWh (1999) Production by source: fossil fuel: 26.82% hydro: 73.18% nuclear: 0% other: Consumption: 5.573 billion kWh (1999) Exports: 400 million kWh (1999)

0% (1999)

15

BUSINESS ENVIRONMENT
Imports: 890 million kWh (1999)

Group Assignment

Industries
Production: growth rate 5.7% in manufacturing (1997); accounts for almost 15% of GDP Main: mining, lumbering, light manufacturing, aluminum, food processing

Labour
Labor force: 9 million Labor force (by occupation): agriculture 60%, industry 15%, services 25% Unemployment rate: 11% Minimum daily wage: 10,500 Cedis

Year Labor force Rank Percent Change Date of Information 200 3 200 4 200 5 2006 2007 2008 9,000,000 10,000,000 10,240,000 10,620,000 10,870,000 11,290,000 48 43 43 41 40 41 11.11 % 2.40 % 3.71 % 2.35 % 3.86 % { Index Mundi } 2000 est. 2003 est. 2004 est. 2005 est. 2006 est. 2007 est.

16

BUSINESS ENVIRONMENT

Group Assignment

Investment rate

Year Investment (gross fixed) (%) 2004 24.5 2005 19.7 2006 23.3 2007 29 2008 31.3

17

BUSINESS ENVIRONMENT

Group Assignment

SOCIAL ANALYSIS
Demographics
Population Population growth rate Population Density (Overall) Age structure (in 2008) 0-14 years 15-64 years: 65 years and over: Literacy (in 2000) Total population Male Female Religions Christian Muslim Traditional Other None Languages (in 2000) Asante Ewe 12.7% Fante Boron (Brong) Dagomba Dangme Dagarte (Dagaba) Akyem 9.9% 4.6% 4.3% 4.3% 3.7% 3.4% 14.8% 68.8% 15.9% 8.5% 0.7% 6.1% 57.9% 66.4% 49.8% 37.8% (male 4,470,382/female 4,360,359) 58.7% (male 6,852,363/female 6,866,470) 3.6% (male 386,150/female 447,124) (2008 est.) 23,382,848 (in 2008) 1.928% (in 2008 est) 63 persons per square kilometer (in 1990)

18

BUSINESS ENVIRONMENT Ga Akuapem other Ethnic groups Akan Mole-Dagbon Ewe Ga-Dangme Guan Gurma Grusi Mande-Busanga Other tribes Other Life expectancy at birth (in 2008 est.) Total population Male Female 59.49 years 58.65 years 60.35 years[1] 45.3% 15.2% 11.7% 7.3% 4% 3.6% 2.6% 1% 1.4% 7.8% 3.4% 2.9% 36.1% (includes English (official))

Group Assignment

Education
Formal education in Ghana preceded colonization. The first schools were established by European merchants and missionaries. During the colonial period, a formal state education structure was modeled on the British system. This structure has been through a series of reforms since Ghana gained its independence in 1957. In the 1980s, further reforms have brought the structure of the education system closer to an American model. he first nationalist government, headed by Nkrumah, accelerated plan for education. With legislation, he made primary education free and compulsory. Before this time, most of the schools belonged to religious bodies or the communities themselves and parents paid for school. Government took over the management of schools. The 1961 Education Act made elementary schools (junior secondary or middle) free and compulsory. Students began their 6

19

BUSINESS ENVIRONMENT

Group Assignment

year primary education at the age of six. They then moved on to 4 years elementary/middle school. They then moved on to a 5 years secondary education, followed by 2 years of college preparatory education. It took 17 years to complete the pre-university education, however, some were allowed to complete it earlier, if they were academically ready. At the time of independence in 1957, Ghana had only one university and a handful of secondary and primary schools. Ghana's educational System is highly centralized. The Ministry of Education and its agencies are responsible for the entire educational system in the country. Entrance to universities is by examination following completion of senior secondary school. A National Accreditation Board began in 1990. It is in charge of accrediting programs in all national institutions. This does not affect the university because the university has had a very long existence. It is particularly responsible for polytechnics. The programs must be the right ones and accredited...or the program can't be run. Ghana has 12,130 primary schools, 5,450 junior secondary schools, 503 senior secondary schools, 21 training colleges, 18 technical institutions, two diploma-awarding institutions and five universities. ( Education )

Spending Habits
Due to 28.5% poverty rate and 11% unemployment rate the spending habit may not be much encouraging. But these are only facts, due to day by day going development the spending habits are improving at a great rate Certainly, higher rates of unemployment, income disparity and credit discrimination are financial impediments to the economic vitality of people in Ghana,. By finding the courage to change the spending habits, we might be surprised at how far the $631 billion we now earn might take us.

20

BUSINESS ENVIRONMENT

Group Assignment

TECHNOLOGICAL ANALYSIS
By historical tradition and choice, Ghana's Technological future has been bound up with that of Britain and the Commonwealth of Nations. Indeed, Nkrumah led the way for independent African states that were former British colonies to join the Commonwealth. The close bond between Ghana and Britain was evident in 1959 when Queen Elizabeth II, the head of the Commonwealth of Nations, visited Ghana and received a most friendly reception. The Commonwealth provided a vehicle for the transfer of technology. Ghana became an major player in Commonwealth affairs. In May 1994, Ghana hosted a Commonwealth conference on local government that attracted participants from several West African countries.

TECHNOLOGIES USAGE IN GHANA Telecommunications;

The most technological development is of telephonic system. As since 1997, the telephonic system was famous for the landline and now from the survey now we have the vast area of mobile cellular mobile phone. We can see below: Telephones - main lines in use Telephones - mobile cellular 356,400 (2008) 5.207 million (2008)

Telephone system general assessment: fixed-line infrastructure outdated and unreliable; competition among multiple mobile-cellular providers has spurred growth with subscribership about 25 per 100 persons and rising

21

BUSINESS ENVIRONMENT

Group Assignment

domestic: primarily microwave radio relay; wireless local loop has been installed international: country code - 233; landing point for the SAT-3/WASC fiber-optic submarine cable that provides connectivity to Europe and Asia; satellite earth stations - 4 Intelsat (Atlantic Ocean); microwave radio relay link to Panaftel system connects Ghana to its neighbours. Since 1999, There is radio which was available was fm but now the technology was spread to high technology short waves which brings about more wide coverage in the society. Radio broadcast stations FM Shortwave 86 3 (2007)

There is a wide area of television in GHANA: Television broadcast stations 7 (2007)

AUTOMATION-Internet Networking
Now we can see the wide area of network from which we can know the whole data of this country how the net is evaluated and used in this country. At present the cost of internet connection Ghana is still relatively high, and availability limited. But e-mail communication is already far cheaper than fax and phone. Currently, with the exception of South Africa, the majority of information and messages about African countries and issues on the Internet still comes from host computers in Western countries. Business information concerning Africa available on-line at present comes primarily from international governmental and non-governmental organizations, a few national governments as well as privately hosted websites like The Africa Business Pages which is hosted by Dubai-based Gateway Marketing.

22

BUSINESS ENVIRONMENT

Group Assignment

Increasingly, information on the Internet provided in one form is often available in another form as well, just as you can get most printed magazines at a newsstand, at a library, or by subscription. Tools for accessing the Web by e-mail are also available, although the process is less directly interactive and requires more patience and planning. Despite rapid recent progress, African countries continue to lag far behind the developed world where, for example, one in six people in North America and Europe are estimated to use the Internet regularly. Internet and electronic mail (e-mail) are essential in assisting African businesses to overcome their traditional constraints to economic
Internet Networking

development, such as distance from markets. High Internet access charges are also a serious problem. Other problems include a severe shortage of skilled technology personnel, the high cost of computer and communication equipment, inadequate telecommunications infrastructure and unreasonable regulatory environments in many countries. Internet country code Internet hosts Internet users gh 2,899 (2007) 609,800 (2006)

Transportation
Transport in Ghana is accomplished by road, rail, air and water. Ghana's transportation and communications networks are centered in the southern regions, especially the areas in which gold, cocoa, and timber are produced. The northern and central areas are connected through a major road system; some areas, however, remain relatively isolated. Roadways Total paved unpaved World Rank 62,221km 9,955km 52,266 km (2006) 73

23

BUSINESS ENVIRONMENT Railways Railways are the most widely used in this country Total Type : World Rank Airways There are the most widely airports used in this country Airports Airports - with paved runways Total Over 3,047 m 1,524 to 2,437 m 914 to 1,523 m: 914 to 1,523 m Under 914 m Waterways: Total Length 1,293 km 7 1 4 2 (2007) 3 2 (2007) 12 (2007) 953 km. 1.067-m gauge 91

Group Assignment

Airports - with unpaved runways total: 5

168 km for launches and lighters on Volta, Ankobra, and Tano rivers; 1,125 km of arterial and feeder waterways on Lake Volta (2007); 13 km of Pipelines oil; 316 km of refined products. Ports and terminals Merchant marine Total: By type: Foreign-owned: 3 ships (1000 GRT or over) 5,032 GRT/7,282 DWT 1 petroleum tanker 2 refrigerated cargo 1 (Brazil 1) (2007) Tema

24

BUSINESS ENVIRONMENT

Group Assignment

CONCLUSION
After going through the PEST analysis of GHANA, we conclude that the country chosen by us to setup Home Appliances Industry .The Ministry of Education and its agencies are responsible for the entire educational system in the country is most appropriate as the country is developing and there is a vast scope for development in the field of telecommunication, networking, transportation, airlines. There are 503 senior secondary schools in Ghana. Ghana recently moved from an authoritarian military rule to a democracy. There. Due to the renewed interest in Ghana, more people are visiting Ghana and Tourism is now the third largest foreign currency earner. Several major hotel projects in Accra and elsewhere in the country are underway. Music is virtually inseparable from dance in traditional Ghanaian societies, and both are integral to the maintenance of important cultural identifiers. Although the musical landscape is rich with many vocal and instrumental genres, it is through the magical rhythms of the drummers that the soul of the people of Ghana is preserved and flourishes. . Ghana's coastal regions are dotted with sandy beaches alternating with steep rocky bluffs and coconut trees surrounding dense tropical growth. Many rivers empty into the ocean and one can see large, brightly painted canoes in lagoons, rivers, bays and ocean. The coastline is also dotted with many ancient fortresses is less number of companies manufacturing home appliances, so competition is less and the situation is favorable for the growth of our industry.

25

BUSINESS ENVIRONMENT

Group Assignment

REFERENCES
1. The World Factbook, Available at: www.cia.gov, https://www.cia.gov/library/publications/the-world-factbook/geos/gh.html, Last Accessed: 22 Oct. 2008 at 4:30pm. 2. 3. 4. US Department of States- Background Note: Ghana, Available at: www.state.gov, http://www.state.gov/r/pa/ei/bgn/2860.htm, Last Accessed: 22 Oct. 2008 at 5:00pm. A Country Study: Ghana, Available at: www.cweb2.loc.gov, http://lcweb2.loc.gov/frd/cs/ghtoc.html, Last Accessed: 23 Oct. 2008 at 4:30pm. Minimum wage goes up, Available at: www.businessghana.com, http://www.businessghana.com/portal/news/index.php? op=getNews&id=37031&PHPSESSID=2fc9054eb8f55d5c568e8e2d0bd9bde2. Last accessed: 25 Oct. 2008 at 4:30 pm. 5. pm. 6. 7. Ghana - gateway to west Africa, Available at: www.africa-Business.com, http://www.africa-business.com/features/ghana.html, Last accessed: 25 Oct. 2008 at 5:00 pm. Economie-Price Regulation, Available at: www.mineco.fgov.be, http://mineco.fgov.be/organization_market/price_regulation/home_en.htm, Last accessed: 28 Oct. 2008 at 4:45 pm. 8. Index Mundi, Available at: www.indexmundi.com, http://www.indexmundi.com/g/g.aspx?v=144&c=gh&l=en, Last accessed: 28 Oct. 2008 at 4:55 pm. 9. Unemployment rate rises, Available at: www.modernghana.com, http://www.modernghana.com/news/176953/1/unemployment-rate-rises.html, Last accessed: 28 Oct. 2008 at 5:15 pm. 10. Education, http://www.lehigh.edu/~tqr0/ghanaweb/education.html, Last accessed: 28 Oct. 2008 at 5:15 pm. Common currency for west Africa, Available at: www.africa-Business.com, http://www.africa-Business.com/features/currency.html, Last accessed: 25 Oct. 2008 at 4:50

26

BUSINESS ENVIRONMENT

Group Assignment

PICTURE REFERENCES
1. 2. 3. 4. 5. 6. 2008. 7. 8. 9. Automation, http://www.overlake.org/blogs/tech/wpcontent/uploads/2008/04/img_4345.jpg, Downloaded on: 11 Nov. 2008. Internet, http://farm1.static.flickr.com/252/521436902_d26192dd54_m.jpg, Downloaded on: 11 Nov. 2008 ECOWAS Headquarters, http://bp0.blogger.com/tKnPAwSHy7E/RzMP2fyanI/AAAAAAAAAtE/wvPTQIL9fa4/s320/a buja.jpg, Downloaded on: 11 Nov. 2008 Ghana Map, http://ghana.kia-global.com/Files/MapImage/Ghana_map.jpg, Downloaded on: 9 Nov. 2008 Ghana National flag, http://ghanaweb-news.com/Documents/GHANA_FLAG_A.jpg, Downloaded on: 9 Nov. 2008 Aburi hills, http://upload.wikimedia.org/wikipedia/commons/b/be/Aburi_hills.jpg, Downloaded on: 9 Nov. 2008 John Agyekum Kufuor, http://ghana.gov.gh/files/images/kufuor12.jpg, Downloaded on: 12 Nov. 2008 Archimota School, http://www.lehigh.edu/~tqr0/ghanaweb/archimotaweb.jpg, Downloaded on: 12 Nov. 2008 Railways, http://www.fahrplancenter.com/GRCSign(rh).jpg, Downloaded on: 11 Nov.

27