A short report going over the market potential within Ghana
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.
Ghana also has a very young population with a median age of 21 years
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.
the Ghanaian government introduced a regulation that allowed telecommunication companies to apply for a license from the Central Bank rather than asking them to partner with a commercial bank, enabling more mobile payments.
Ghana boasts one of the best and most equally divided distribution network in West and Sub-Saharan Africa
GDP per capita of US$ 2 370.00. Which is considered relatively rich in the west african region