A short report going over the market potential within Ghana
2022
E-commerce
Ghana's growing middle class and young population present significant investment opportunities for foreign investors, particularly in the financial, energy, and infrastructure sectors. The government has taken measures to improve the business climate, including reducing the number of permits required to start a business and introducing incentives for investors. While digital marketing is becoming popular for businesses in Ghana to reach consumers, challenges such as a lack of access to finance, inadequate infrastructure, and high energy costs remain.
Key Takeaways:
The country boasts a sizeable consumer market with a population of 30.78 million
10.11 Million internet users in Ghana currently which accounts for 35% of total population.
Affordability and trust are the two main criteria that determine the purchase decisions of Ghanaians
Compared to other African countries, Ghanaian consumers are more receptive to advertisements and show a stronger interest in promotions and attractive packaging. They are also more willing to try new brands and are better connected with the media
supermarkets and modern retail outlets have difficulty gaining a foothold, as traditional channels such as container shops and roadside kiosks maintain their strong position.
The introduction of special Visa and MasterCard services has enhanced business practices, allowing many Ghanaian companies and individuals to carry out online financial transactions.
GDP per capita of US$ 2 370.00. Which is considered relatively rich in the west african region
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