Ghana

Ghana’s ranking is improving for Economic Freedom and it is one of the most stable countries politically in Africa, although corruption remains pervasive. Extremely high inflation is leading to an economic slowdown, whilst exposure to global…

While alcoholic drinks are no longer being impacted by the COVID-19 pandemic in 2022, global inflation is impacting pricing and consumers incomes. This is leading to downtrading and is especially impacting premium and luxury brands. Meanwhile, the…

In 2022, demand continues to grow steadily across all categories within home care, and astronomical growth has actually been seen within value sales due to the global inflation rates. Meanwhile, volume sales remain the same has demand has not changed…

Off-trade volume sales of soft drinks continued to expand during 2021, albeit at a significantly slower rate than in the review period prior to the pandemic due to the economic shock of COVID-19. Bottled water dominates demand for soft drinks, as it…

Tobacco use in Ghana remains low due to strong societal and cultural disapproval of smoking. It was further negatively impacted in 2022 by high unit price rises due to depreciation of the local currency and tax rises. Volume sales of cigarettes…

The snacks market in Ghana is set to experience a slight decline in retail volume sales in 2023, while current value sales are expected to grow strongly on the back of sharp increases in price. Prices have risen as manufacturers have passed on…

Retailing saw a surge in current value sales as inflation rates soared in 2022. With retailers still struggling to recover post-pandemic, consumer purchasing power was hit by rising retail prices. Consumers made cutbacks and focused on essential…

Hot drinks sales continued to decline in retail volume terms in 2022 albeit at a slower pace than in the previous two years, while foodservice sales struggled to recover to pre-COVID-19 levels. High inflation and other economic pressures resulted in…

In 2022 demand for tissue and hygiene products had resumed pre-pandemic norms. Products that benefited from the pandemic started to slow while those that were negatively affected started to recover. The market remains driven and influenced by…

Retail volume sales of staple foods are mainly characterised by rice and bread, with demand for products such as pasta, breakfast cereals and processed meat and seafood largely limited to affluent urban dwellers. Significant rises in unit prices in…

Demand for dairy is growing among low socioeconomic groups thanks to its healthy image, despite the rising cost of living. Independent small grocers continue to characterise the distribution of dairy as modern retailing remains in its infancy,…

In 2022, beauty and personal care is no longer being impacted by the COVID-19 pandemic, however, global inflation rates are causing prices to rise and consumers to change their consumption habits. Meanwhile, more modern attitudes towards personal…

In 2022, normalisation is being seen in many categories as the COCIVd-19 pandemic and the related panic and fears come to an end. However, many local consumers have continued to be interested in preventative healthcare. Similar to other sub-Saharan…

Edible oils dominate cooking ingredients and meals, but their retail volume sales fell in 2022 amid a spike in unit pricing due to rising raw material costs. Demand is gradually shifting from palm oil to sunflower oil, as the latter is regarded as…

Ghana ranks in the bottom half in the Index of Economic Freedom, due to a lack of microeconomic stability and worsening fiscal health. Additionally, skills shortages impede the development of high value-added sectors, while the underdeveloped ICT…

The report examines the economic landscape of Ghana and provides information on major monetary indicators, foreign trade, investment and government finance. The economy in Ghana expanded in real terms in 2022, driven by increasing public and private…

The commodities country overview provides comprehensive data on production, consumption and price trends in key commodities markets. The commodities overview in Ghana covers production and consumption trends in agricultural commodities, energy…

The number of households is set to increase rapidly in Ghana over 2021-2040, with other (extended) remaining the dominant household type. While household earnings will only gradually reach pre-pandemic levels, the fastest household expenditure growth…

Persisting income inequality and rising inflation pose risks to consumer market development in Ghana. While a large share of the population is devoting the lion’s share of their income to essentials, discretionary spending is set to remain below the…

Accra and Kumasi are Ghana’s most economically vibrant cities. The cities’ economic strength is partially supported by higher consumer expenditure, compared to other cities in Ghana. Moreover, Accra holds the greatest potential for future economic…