Since it has traditionally had a limited real estate market, few developers, residents or investors up to now have viewed housing in Ghana as a worthy asset. However, with the start of oil production in late 2010 and bold plans for gas-fed industrial growth and diversification, things may be beginning to move in the sector.
Buoyed by first oil lift in late 2010, the government has placed infrastructure development at the centre of its strategy for economic growth and job creation. Although the funding for infrastructure projects remains a key concern, its central position in government plans bodes well for Ghana’s contracting and engineering firms.
When the Diamond Cement plant in Aflao on Ghana’s eastern border was struck by lightning in April 2012, few could have predicted the extent of its impact on Ghana’s construction market. The nearly month-long shutdown that followed led to cement price increases of as much as 85% and industry layoffs by contractors struggling to cope. Although...
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×