Timeline

1482 - Portuguese set up trading settlement in Gold Coast. They built the first African fort at El Mina in 1482 and supplied about 12,000 African slaves for gold mining in Akan country (Ashanti region in this period).

1925 - First legislative council elections takes place.

1957 (6th March) – Ghanaian independence after ten year political campaign by CPP (Conventions People’s Party) led by Dr Kwame Nkrumah; Kwame Nkrumah proclaimed prime minister. Ghana inherits 200 million pounds in compensation from Britain.

1960 – British give up all control and Ghana is proclaimed a republic; Nkrumah elected president.

1964 - Ghana becomes a one-party state (CPP). Development programs come into effect; proliferation of state farms and industries, health care facilities improved, free education system for all, Akosombo Dam built.

1966-1979 - Poltical instability: Nkrumah overthrown during military coup and 1st Republic ends. Russian and Chinese technicians expelled. 1969 - Constitution rewritten. Civilian government led by Kofi Busia comes into power, 2nd republic begins. 1972 - Busia government overthrown during military coup led by Colonel Ignatius Acheampong. 1978 - Acheampong forced to resign and General Frederick Akuffo takes over. Economics: Inheritance completely spent, balance of payment deficits, foreign debts, inflation, price controls and disguised unemployment.

1979 - Akuffo overthrown by Flight Lieutenant Jerry Rawlings; Acheampong and Akuffo executed on charges of corruption. Rawlings voluntarily hands over power to elected president, Hilla Limann. Two years of the implementation of weak policies lead to economic stagnation.

1981-1983 - Limann ousted in military coup led by Rawlings. Conservative economic policies adopted by Rawlings government; all subsidies and price controls removed, state enterprises privatized, unemployment increased and cedi (Ghanaian currency) devalued.

1992 - New constitution introducing a multiparty system approved. Rawlings elected president. 1996 - Jerry Rawlings re-elected president.

2000 (December) - John Kufuor beats Vice-President John Atta Mills in presidential election.

2001 (February) – Government removes fuel subsidies, petrol prices rise by 60%.

2001 (April) - Ghana accepts debt relief scheme designed by World Bank and IMF. Ghana becomes Highly Indebted Poor Country (HIPC). Government approves merger of two gold-mining firms, ending bidding war and creating new gold-mining giant.