Ghana Industry Articles & Analysis

Chapter | Industry & Retail from The Report: Ghana 2018

Industry is at the centre of government plans to transform the economy from one reliant on its resource base to one driven by value-added exports. The current administration has laid out a series of plans to achieve these goals and build strong value chains around key industries, announcing a number of policies designed to support the industrial agenda and expand production. The performance of...

Since assuming power in January 2017 the administration of President Nana Akufo-Addo has moved to rein in fiscal spending, industrialise rural regions and improve the business environment in order to jump-start economic growth. The government has brought down the fiscal deficit and freed up capital spending for priority projects, and Ghana’s economic prospects appear strong for 2018.

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Ghana’s mining industry could see investment levels rise on the back of government efforts to improve the business environment and announcements that key gold mines are preparing to reopen or expand operations.

 

What are the main trends you foresee in the consumer markets in West Africa and Africa as a whole?

 

A defining characteristic of President Nana Akufo-Addo’s industrial policy is decentralisation. The new administration is hoping to drive economic growth and employment by encouraging the development of industry in every region of the country.

 

As the economy grew following the discovery of domestic oil in 2007, expectations of increased consumer spending soon followed. Ghana has much to offer retailers: by regional standards, it offers a relatively affluent consumer base in a stable environment; furthermore, the formal retail supply is limited, providing opportunities for growth....

 

What are the key competitive advantages of Ghana as a manufacturing base for West Africa?

 

The cost and availability of credit is one of the central problems facing Ghana’s industrial sector. Across various segments, a lack of funds and high interest rates have constrained growth for a number of years. However, while many challenges persist, the current administration has made improving the domestic borrowing environment a top...