Ghana Industry

Chapter | Industry & Retail from The Report: Ghana 2022

Industry has been a significant source of economic growth for Ghana in recent years, a trend that continued despite the Covid-19 pandemic. While in the past industrial development has been tied to resource endowments such as cocoa, mining and crude...

As Africa’s largest gold miner and the world’s second-largest cocoa producer, Ghana has witnessed steady growth in recent years. While the country was impacted by the Covid-19 pandemic, it navigated the crisis better than many of its income-level peers, in large part thanks to measures aimed at boosting public revenue. Ghana aims to improve its fiscal deficit in 2022 to 7.4% of GDP.

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E-commerce and digital transactions have expanded rapidly in Ghana, a trend that accelerated during the Covid-19 pandemic as health-related restrictions limited foot traffic in malls, prompting greater levels of online retail activity. A corresponding increase in mobile money payments and transfers was supported by quick interventions by the...

 

Industry has been a significant source of economic growth for Ghana in recent years, a trend that continued in 2020 and 2021 despite widespread disruptions associated with the Covid-19 pandemic. The sector accounts for a large portion of both employment and exports, underscoring its importance as the government seeks to bolster value-added...

 

What are your expectations for the industrial sector during Ghana’s post-pandemic recovery phase?

 

Ghana’s retail sector has expanded in recent years, bolstered by rising living standards, and lower levels of unemployment and inflation. Taken together, these factors improved consumer confidence and supported customers’ purchasing power. This trend continued into 2021, despite a modest slowdown in response to the Covid-19 pandemic when...

 

To what extent has the global supply chain disruption impacted retailers in Ghana, and how is the industry adapting to this?

 

The African Continental Free Trade Area (AfCFTA) was established in 2018 after an agreement between 44 member states of the African Union (AU) and was officially launched in January 2021. The pact aims to significantly reduce or eliminate tariff and non-tariff barriers on the continent, facilitate a single continental market for goods and...

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