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 activities’ contribution to the economy and attract investment into emerging segments. The manufacturing base is supported by government efforts to leverage…
Industry & Retail
From The Report: Ghana 2022
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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 oil, diversification of the industrial sector has been a priority of the government since 2017, with a series of fiscal measures aimed at tackling structural challenges. Similarly, Ghana’s retail sector has expanded in recent years, bolstered by rising living standards and lower levels of unemployment. This trend continued into 2021, despite a modest slowdown in response to the pandemic when social-distancing measures resulted in falling foot traffic in shopping venues. Overall, the continued expansion of e-commerce has the potential to support the country’s long-term economic recovery.
This chapter contains interviews with Hayssam Fakhry, Managing Director, Interplast; and Ramesh Sadhwani, Co-CEO, Melcom.