Ghana Food & Drink Q1 2021
The short-term outlook for Ghana's food and drinks market remains broadly positive, though spending growth will slowslightly in 2021 compared to 2020, largely as a result of base effects due to a surge in at-home consumption during thecoronavirus crisis. The market is supported by a number of positive fundamentals: while the economy slowed in 2020 due to theCovid-19 pandemic, Ghana was able to avoid a full recession and economic growth is expected to bounce back quickly over thecoming quarters. As a result consumer spending power will continue to improve and while the focus will remain on basic staples, wedo expect to see improved spending on convenience and processed foods as affordability rises. Ongoing urbanisation combinedwith a large, youthful population will also support spending growth in 2021 and beyond.
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