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The Koforidua is a trading center for the East and New Juaben Municipal District. It is home to many enterprises, with the exclusion of large scale industry, the town is home to one of the oldest IV infusions in Ghana and West Africa, a premier manufacturer of injectables and drops.
It is quoted on the Ghanaian stock market and was incorporated in 1969. Ghana is the first university to have developed a spacecraft in West Africa. The Ghansat 1 spacecode was given to JAXA, the Japan Astronautics Office, and then to NASA in the USA for launch in 2017.
It is home to many government offices and ministries at regional levels. Koforidua Technical University and Koforidua are linked to Oyoko by a four-lane motorway, which will bring trade to the town. Because of the concentrations of secretariat and trade colleges such as the Moses College of Accountancy ,Solomon Businessschule etc. in the 1940s to 1950s and 1960s, which was very uncommon in most Ghana towns, many pretty women were attracted to the town...and thus won the Koforidua Flower award, as the women's attractiveness was likened to the men's floral attractiveness that visited the town in the old age.
There are many hotels in the town, which range from 4-star to inexpensive inns. The Koforidua was established in 1875 by Asanteman' s Asan immigrants. When the Kumasi railroad was completed in 1923, Koforidua became an important street and railroad hub. The Koforidua is one of the oldest areas of cultivation of cocoa beans. Today it is also known for its Thursday pearl market, which attracts pearl purchasers and vendors from all over the East area.
According to legends, Mount Obuotabiri in New Juabeng was home to the god and sheltered man. Thought to be populated by dwarves, it was regarded as the spirit of the New Juabeng area. New Juaben Municipality belongs to the eastern region of southern Ghana.
It has an area of 110 sq. km, or 0.57% of the entire eastern region. It has an average yearly precipitation of 50 - 120 inch and 20 - 32 degrees Centigrade. Koforidua (New Juabeng) consists of several districts and villages, among them Effiduase, Asokore, Oyoko, Jumapo, Suhyen, Dansuagya, Betom and Srodae.
It is two inches from Accra. The" Akwantukese" (The Great Travel Festival) is held annually to highlight the movements of the people of the Koforidua forebears from" Asanteman" to their present whereabouts. It is also home to many diversified businesses, from universal banks, microfinance institutions, agricultural banks and savings banks to insurance firms.
At present, the town is mainly dependent on government administration, retail, gastronomy, trade and education. Among the most important tourist sites of Koforidua are some of the most beautiful nature such as Mount Obuo Tabri, which is regarded as holy. The Akaa Falls, Boti Falls and Umbrella Rock lure visitors to the east.
The Koforidua region will remain an important educational crossroads in Ghana. This is home to many primary and a number of prestigious high school in the state. One of their colleges, the Pope John High School and Minor Seminary, was selected in 2012 as the ninth out of over 200 Ghanaian seniors' high school.
It also has a Technical University (Koforidua Technical University) and two privately owned colleges (All Nations University College) and (Ghana-Telecom University College). There' re other high schools in Koforidua. Among these are the Pope John Senior High and Junior Seminar (Pojoss), Oti Boateng Senior High School (Oboss), Koforidua Secondary Technical Senior High School (K. S.T.S), Pentecost Senior High School (Pensec) and Ghana Senior High School (Ghanass).
The New Juabeng High School ( " Njuasco "), New Juabeng College of Commerce (Njuacoco), Normal Technical Institute und andere private High Schools. They educate and prepare Ghanaian pupils for the West African Higher School Certificate Examination (WASSCE). The existence of the WASSCE is indispensable for access to universities and other colleges in Ghana.