Construction & Real Estate
From The Report: Ghana 2017
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Public-private partnerships continue to play key role, government encourages local production of materials. Construction is the largest subsector of industry Growth begins to stall in the real estate market

Articles from this Chapter

Overview

Forward momentum: The construction sector continues to be a major engine for growth
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Ghana’s growing oil and gas sector, investments in infrastructure, rapid urbanisation and a growing housing deficit continue to place demand on the country’s construction sector. However, the rising prices of both electricity and building materials pose long- and short-term challenges. Despite setbacks, the construction sector has continued to grow. According to the Ghana Statistical Service, a government body tasked with compiling economic data and indicators, construction was the largest…

Analysis

Building blocks: The government is taking steps to increase domestic production of special materials and cement
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Since most of Ghana’s building materials are imported to the country, the devaluation of the cedi has driven prices upward and had a profound effect on the cost of construction and availability of materials. In order to ease transactions for construction firms and boost broader economic growth, the government is working to further increase local production of many key building materials. According to the Centre for Affordable Housing Finance in Africa, up to 80% of Ghana’s building materials…

Interview

Shaping the landscape: Amanda Jean-Baptiste, Partner, Real Estate, Actis, on developments in the housing market
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Interview:Amanda Jean-Baptiste How does the growth of Ghana’s middle class impact demand in the high-end segment? AMANDA JEAN-BAPTISTE: The country’s middle class is growing and becoming wealthier, and as that happens consumption patterns also change. They increase their level of discretionary expenditure away from basic needs, and their tastes become more aspirational. This is already a well-observed trend of the African consumer, not just on the continent, but also in places like the…

Overview

Works in progress: Despite a period of slower growth, long-term prospects for the sector remain strong
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Over the past 20 years, Ghana has outperformed its neighbours in reducing poverty and ensuring political stability, which resulted in an influx of foreign direct investment. The real estate sector in particular saw rapid growth after the discovery of oil in 2007, as dozens of multinational companies and surveyors flooded the country, driving up demand for temporary housing. Shopping centres and prime real estate were quickly developed, and prices increased sharply. However, given the country’s…