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A strong tradition of press freedom across all segments characterises the Ghanaian media sector. However, few providers have a truly national reach, with most focusing on a small market or a share of the largest cities. Radio remains a key outlet; its ability to reach rural regions makes it attractive, and it is a sought-after feature for mobile phone buyers. With Ghana reaching mobile penetration of 100%, media content that is easily consumable on mobile handsets will be increasingly important. New sources of advertising revenue have developed in the past three years as the number of international and domestic advertising agencies operating in Ghana has increased. Billboards remain the preferred advertising method for certain sectors, in particular telecoms, consumer goods and public awareness campaigns. The six telecoms companies account for roughly 30% of advertisements that appear on the nation’s most popular radio and television stations. While traditional forms of advertising will continue to be important, a number of new marketing channels are expected grow in relevance over the next few years.

After cocoa exports and gold mining, tourism is the top foreign currency earner in Ghana’s economy, generating some $694m of foreign currency for the government in 2012. The industry is vital to overall economic growth and is expected to contribute 5.4% of GDP by 2023, growing at a rate of 4.5% between 2013 and 2023. The new 15-year National Tourism Development Plan, which runs from 2013 to 2027, aims to boost the sector’s performance via several partnerships with international organisations, including the EU and UNESCO. Hotel development in Accra and Takoradi is expected to continue to drive investment, providing for business travellers’ needs in a rapidly growing economy. In the long term, Ghana’s proximity to Europe, and the fact that multiple cultural and ecological destinations are located on or within a short drive from the country’s coastal strip, are factors that continue to open new opportunities for investment. This chapter contains an interview with Sampson Donkoh, Deputy Chief Executive, Ghana Tourism Authority.

The continuing implementation of expansive reforms, including the Single Spine Salary Structure and updates to the National Health Insurance Scheme aimed at providing universal health care, made 2012 a turbulent year for Ghana’s health sector. The Ministry of Health has seen its budget swell as the government attempts to address deficiencies in the sector, and remains committed to delivering universal health care through infrastructure upgrades and enhanced staff development. Although some indicators have been declining, the overall health of Ghanaians has improved in recent years, and seems set to continue on an upward trajectory into 2014. As the largest recipient of state funding in the country, the Ministry of Education (MoE) is tasked with transforming the country’s economy from resource- to knowledge-based and ensuring that graduates are prepared to enter the fast-changing workforce. The main focus of the MoE’s strategic plan for 2010-20 is to provide basic education to all children, bridge the gender and accessibility gaps, and emphasise science and technical education. This chapter contains interviews with Dr Pilar Mateo Herrero, President, Inesfly; and Ernest Aryeetey, Vice-Chancellor, University of Ghana.

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.

Ghana has been successful in increasing penetration beyond the regional average. Having reached 100% by the end of 2012, penetration figures touched 102.7% as of February 2013 – figures that are well above the 53% norm for African countries and even the developing world average of 89%. However, average revenue per user is beginning to fall as penetration rises, prompting operators to increasingly focus on selling data, providing value-added services and lowering infrastructure costs. With six operators active, the telecoms market is quite competitive, and this has generated a host of ancillary benefits for the country. Ghana’s stable investment framework, combined with a strong education system, rising per capita income levels and increasing bandwidth capacity mean the nation offers sizeable opportunities in ICT.. The country has benefitted from improved networking infrastructure, by both the public and private sector. These sorts of investments will have significant knock-on effects beyond increasing access. In the meantime, Ghana’s IT sector will be driven by state spending on its e-government programmes such as the Eastern Corridor project. In the medium term, the private sector will begin to play a larger role in the development of the industry as more of the nation’s businesses begin to follow the government’s lead and move online. This chapter contains a roundtable with Phillip Sowah, Managing Director, Airtel; Michael Ikpoki, Former CEO, MTN; Adil El Youssefi, CEO, Tigo; and Kyle Whitehill, Former CEO, Vodafone.

The influx of capital and burst of growth that followed Ghana’s discovery of oil in 2007 led to a construction boom in 2011-12. Sourcing materials, however, has been problematic and in 2012 the World Bank reported that Ghana needs to spend $26bn on infrastructure, including basic road, housing and utilities upgrades, to support economic growth. As Ghana continues to channel new-found oil revenues into its infrastructure, and the private sector takes an increasingly active role in helping to meet housing shortfalls and infrastructure rehabilitation requirements, the sector is set to remain attractive to foreign investment. Property development in Ghana is growing, with increased demand in the residential, office and retail segments in major urban areas. Stronger collaboration between the private and public sectors could see housing become accessible to a largely untapped middle- and lower-class market. With expansion continuing at a steady pace and the middle class slowly realising its purchasing power, real estate in Ghana is set to offer long-term rewards for patient investors. This chapter contains an interview with Nana Kwame Bediako, President and CEO, Petronia City Development.