BMI View: We hold a positive outlook on Ghana's retail market over our forecast period, driven by
growing investment in retail space development in recent years. The country's household incomes will
increase rapidly between 2015 and 2020, nearly doubling in local currency terms during this period. We
expect growth in the retail sector to benefit from an increasingly favourable consumer outlook as well as
booming investment from foreign brands.
Key Views And Developments
The e-commerce market is gaining traction in Ghana thanks to infrastructural improvements and new
agreements. Nigeria's Zenith Bank has launched a new service targeting online stores, which will allow
online retailers and customers to safely process payments. Meanwhile, MallforAfrica.com is partnering
with eBay to facilitate shopping and payments for Ghanaian consumers.
Pick n Pay, a South African groceries retailer that initially planned to open stores in Ghana in 2016, is
now reported to be planning to enter the market in 2017.