Ghana

A rise in purchasing power and a shift towards formal retail space is helping burnish a positive outlook for retailers in Ghana. Mall retailing is still in its infancy, particularly outside the capital, but international brands and developers are increasingly enthusiastic about the country.

Tema, Ghana’s largest port, has made global headlines recently over the “crippling disruptions” caused by an impounded Argentinean military ship blocking a busy berth. The obstruction has come at an inopportune time for Tema, where activity should be ramping up to the peak pre-Christmas period. It also highlights the importance of ongoing efforts to enhance capacity and efficiency both at Tema and Takoradi, the country’s second-largest port.

The arrival of a sixth operator in the already competitive Ghanaian mobile telecoms market spells good news for customers keen to take advantage of aggressive pricing policies and product innovation.

Although Ghana has an unusually high loans-to-deposits ratio and household lending rates in excess of 20%, the banking sector has been enjoying strong growth of late, on the back of the country’s macroeconomic success. Due in part to a mix of both rising capital inflows and a large unbanked population, the potential for long-term profitability, both in corporate and in retail, continues to attract international attention and investment.

A smooth transition from former President John Atta Mills, who unexpectedly passed away last month, to new President John Dramani Mahama will help reassure investors about the continued steady performance of the country’s economy, but mild pressure from short-term risks may necessitate some adept changes to monetary and fiscal policy.

Heath care development has been a priority for Ghana for many decades, and the government is now looking to concentrate on the poorest segments of the population and tackle infectious disease rates.