Economy
The Akosombo Dam provides electricity for much of the country, and possibly for export, perhaps to Togo, Benin, and nearby countries, to earn foreign exchange value. Lake Volta is also important for transportation providing a waterway for both ferries and cargo watercraft. Naturally, since the huge lake lies in a tropical area, the water remains warm year-round, and given good management, it is the location of a vast population of fish and large fisheries.
Recent developments include a large-scale enterprise to harvest submerged timber from the flooded forests under Lake Volta. This project harvests high-value tropical hardwood without requiring additional logging or destruction of existing forest and could generate the largest source of environmentally sustainable natural tropical hardwood in the world, - Wayne Dunn (2007). The Ghanaian owned company, Underwater Forest Resources has committed itself to making said lumber available in the Global Market. Flooring Solutions Ghana have also become the suppliers of Hardwood Floors, using the rare wood from the Lake.
In addition to improve navigation on the lake and increasing safety, this project is generating foreign currency for the region and reduces the dependence of locals on fishing as a primary economic activity.
The Digya National Park of Ghana lies on part of the lake's west shore.
The main islands within the lake are Dodi, Dwarf and Kporve. Tourist cruises visit the first of these.
Read more about this topic: Lake Volta
Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)