Industry & Retail

Given the country’s growing consumer population, limited product penetration and stable business environment within ECOWAS, the manufacturing sector in Ghana has impressive potential. However, like many countries in the region, commodities have taken precedence over industrial growth. As a result, manufacturing contributed 6.9% to GDP in 2012, a significant drop from 10.2% in 2006. Imports of consumer goods grew to $902.2m in the fourth quarter of 2012, a rise of 11.2% over the same period in 2011. As the economy expands and incomes rise, demand is expected to continue growing. While Ghana’s industrial sector faces its share of battles, the government is investing in a variety of projects that are geared towards tapping the country’s potential. The retail industry grew 14% in value between 2006 and 2011, buoyed largely by increased sales of fast-moving consumer goods. Although the domestic market is relatively small, with one of the world’s fastest-growing economies and an upwardly mobile population Ghana is increasingly attractive for producers and retailers of consumer goods. Formal retailers, however, continue to face a variety of challenges, from securing adequate space to informal competition and operating in a cash economy. This chapter contains interviews with Roland Agambire, Chairman & CEO, RLG Group; and Manoj Lakhiani, Chairman, Blow Group.