for the launching of a far-reaching Five Year Development Plan (1959–64). Its notable achievements include the establishment of the Bank of Ghana in July 1957, Black Star Shipping Line with SS Volta River welcomed to home port in December 1957 and opening of Broadcasting House of Radio Ghana early 1958 The second five-year development plan was launched on 1 July 1959, aimed at (a) achieving economic independence, (b) developing resources to produce a strong, healthy and balanced economy, and (c) reducing economic vulnerability by reducing dependence on cocoa as a single crop. To lay the foundations on which socialism could be built, Ghana's economy was divided into five sectors (with no single person given the exclusive right to produce a commodity in any sector of the economy): State Enterprises; Foreign Private Enterprises; Enterprises jointly owned by the State and foreign private interests; Co-operatives; and Small-scale Ghanaian private enterprise (reserved to Ghanaians to encourage and utilize personal initiative and skill among Ghanaians) The CPP's major task was rousing the spirit of devotion and sacrifice necessary for the program of development; the rewards of their endeavours being national and individual dignity resulting from the creation and a raised standard of life, that is, wealth with labour. All sections of the community had a part to play in the economic and social revolution. As Nkrumah stated: "We are now working for Ghana regardless of party affiliations. The government will see to it that any sacrifices which the workers, whether by hand or brain, and the farmers may make, will not rob them of the fruits of their labor. The government will ensure that these sacrifices will be made for the benefit of all the people." The Workers Brigade was formed to absorb 12,000 young men and women among elementary school-leavers, and trained in discipline, responsibility and citizenship, and skills to enable them find employment in agriculture and industry. The Ghana Academy of Sciences was established in November 1959 to spearhead Research and Development in Ghana for modernization of agriculture and industrialization using the country's local raw material. Over 60 new factories opened in 1961 which included; a distillery, a coconut oil factory; a brewery; a milk processing plant; and a lorry and bicycle assembly plant. Agreements signed for the establishment of an oil refinery; an iron and steel works; a flour mill; sugar factory; textile and cement factories in 1961 and the Volta