Ghana Industry

Chapter | Industry & Retail from The Report: Ghana 2020

Ghana’s industrial sector has emerged as a significant driver of growth...

The government of President Nana Akufo-Addo assumed power on a promise to take “Ghana Beyond Aid”, and is pushing ahead with initiatives to formalise the economy, diversify its manufacturing base and overhaul its taxation structure. Ghana’s ability to retain fiscal discipline will be tested, with election-related expenditure expected to increase in the run-up to the 2020 poll.

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While West Africa is one of the largest producers of cotton, it has the ability to process less than 2% of the crop locally; around 90% is exported to markets in Asia, where value is added through spinning and weaving.

 

What role can industrial parks play in developing Ghana’s industrial capacity?

 

Ghana’s industrial sector has emerged as a significant driver of growth in recent years as the country leverages its abundant natural resources to diversify the economy and attract investment. Industrial development and import substitution underscore major projects and initiatives throughout the sector, and the government has simultaneously...

 

Rising living standards, falling unemployment rates and lower inflation point to a turnaround in consumer demand in Ghana in the years ahead. After a slowdown in the uptake of retail space, renewed consumer confidence and increasing purchasing power could provide renewed impetus for the sector’s growth.

 

What opportunities do Ghanaian retail companies have for expansion in the region?

 

Small and medium-sized enterprises (SMEs) are the engines of global economic growth and employment, accounting for an average of 33% of GDP and 45% of the workforce in high-income countries, and over 60% of GDP and 70% of employment in developing economies. In the case of the latter, the rise in the number of has been crucial to economic...

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