BMI View: We maintain our positive outlook for Ghana's retail market on the back of an improving
economic outlook from 2017. As the consumer outlook becomes more favourable, we expect retailers that
cater to the low-end of the market to benefit due to low disposable income levels. Essential spending will
remain dominant and stable throughout our forecast period, indicating limited opportunities for premium
and luxury retailers.
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.