Industry & Retail

In spite of its role as one of Africa’s fastest growing economies, Ghana has yet to fully transition its agriculture and resource commodities base into a vibrant and diversified industrial sector. According to the Ghana Statistical Service (GSS), industry accounted for 28.6% of GDP in 2013. While not the region’s largest market, Ghana does provide a range of competitive advantages, including a transparent regulatory environment, accessible inputs and lower overheads than some of its neighbours. As with many African frontier markets, formal retailing is beginning to capture a greater share of spend as an expanding middle class increases consumption and becomes more demanding in terms of convenience and variety. Setting up shop in Ghana, however, is not without its challenges. A shortage of prime retail real estate translates into high rents, and the fact that a large proportion of consumer goods are imported leaves margins subject to currency volatility, import duties and logistics bottlenecks.

This chapter contains an interview with Mustapha Ahmed, Acting Minister of Trade and Industry.