As a previous reviewer noted, be careful as there are two Ampax Hotels in Accra. The one in Asylum Down (reviewed here) can be found at: http://www.ampaxhotelaccra.com/location.php, while the Pokhuase location has a separate website here: http://ampaxhotelgh.com/index.html
For the value - GHc40 for a single with ceiling fan - Amapax Hotel is a great value budget accommodation. Compared to the Pink Hostel located down the road, they offer dorm beds with a shared bathroom for $20USD, which is almost the same price as a single self-contained room at Ampax. Considering the room was clean, yet simple, there were still fresh linens, a desk, two chairs, tv and dresser in the room. There was also a water heater which always worked, which I learned is difficult to come by in Ghana.
There is also a reasonably-priced restaurant on site, although I have never eaten there. I looked at the menu and local dishes are decently price, ranging GHc7 - 10 for your typical rice jollof and chicken dish. There is also a bar, but the selection is quite limited. While there is a large screen TV in the bar that is usually playing football or whatever sports game is available, there are numerous bars in the area that I'd prefer, including Yoko's Indian restaurant right across the street.
If only Ampax received more publicity, they'd steal all the Pink Hostel's business. Until then, consider Ampax Hotel its silent competitor.