V3 GHANA Economic Report 2016

Market
Analysis
Report
Ghana
2016
Copyright 2016, V3 llc, All rights reserved.
Market Analysis Report | GHANA | 2016
CONTENTS
2|Ghana
Government/Political Stability
Economics GDP and Structure
Economics by Sector
Investing in Ghana
Economics Information and

Communication Technology
11
Economics Employment
15
Education/Literacy
21
OPportunities and Challenges to

Economic Growth and Development
24
Demographics
31
Housing
44
Urban Land Supply
54
Construction Industry and Building

Materials
61
Infrastructure
71
Greater Accra
79
Ghana
GOVERNMENT/POLITICAL STABILITY
Background:
Originally a British colony under the name Gold Coast, Ghana gained
independence in 1957. In 1981, the Provisional National Defense
Council (PNDC) replaced the government and founded a military
technocratic regime. By 1983, the PNDC implemented one of Africas
first and longest-running IMF structural adjustment programs,
ultimately bringing stability to the country.
Jerry John Rawlings, who had led the PNDCs 1981 military coup,
founded the National Democratic Congress, NDC, a new political
party, and multi-party elections were held in 1992. Though Ghanaian
politics have historically been dominated by the military, the country
is now firmly under civilian control, as is its military. Ghanaian troops
are now deployed in international and regional peacekeeping efforts
under the UN in Liberia, Cote dIvoire, Sudan, and the Middle East.
The entire military is estimated to be 13,500 strong.
In 2000, the New Patriotic Party, or NPP, won a majority in the
National Assembly. However, the NDC has held the majority of seats
in parliament since the 5th Parliament elections in 2008. Success
during the 2008 general elections established Ghana as a credible
model of democratic practice for other developing countries. (In
2008, political power shifted from one party to another for the
second time since constitutional rule was established in 1993.)
Ghana is essentially a beacon of democratic governance for its
neighbors, and this makes it attractive to foreign investors. With its
generally stable and peaceful atmosphere, Ghana will be able to shift
its focus towards constructing appropriate policies required for
accelerated economic growth.
Government type:
Constitutional Democracy
Legal System:
Mix of English Common Law and
customary law
Suffrage:
18 years of age, universal
Administrative Divisions:
10 regions
Ashanti, Brong-Ahafo, Central,
Easter, Greater Accra, Northern,
Upper East, Upper West, Volta,
Western
Chief of State:
President John Dramani Mahama
(since July 24, 2012), Vice President
Kwesi
Bekoe
Amissah-Arthur
(since August 6, 2012), next
elections are in December 2016
(Election results: John Dramani
Mahama 50.7%, Nana Addo
Dankwa Akufo-Addo 47.7%, other
1.6% (Evenly distributed))
(Source: IMF Staff Report Ghana: Poverty Reduction Strategy Paper)
Ghana|1
Democracy Index (Scale of 0-10)

Overall
Score
Ghana
5.35
Overall
Rank
Electoral
Process
94 of 167
Government
Functioning
7.42
4.64
Political
Participation
Political
Culture
4.44
4.38
Civil
Liberties
Regime
type
5.88
Hybrid
Regime
The index values are used to place countries within one of four types of regimes:
1. Full democraciesscores of 8 to 10.
2. Flawed democraciesscores of 6 to 7.9.
3. Hybrid regimesscores of 4 to 5.9.
4. Authoritarian regimesscores below 4.
Other countries ranked as hybrid regimes are Kenya, Tanzania, Senegal and Mozambique.
Ghana ranked highest in the category of electoral process, indicating its transparency during elections. The
relatively lower scores in political participation and political culture reflect Ghanas lack of voter turnout
and lack of competing parties against the two major parties, the NPP and NDC. The higher civil liberties score
indicates a relatively free press and strong freedom of expression.
(Source: Economist Intelligence Country Profile)
Significant Events of note to Ghanaian diaspora:

February 2006
The Representation of the People (Amendment) Act is signed into law, giving non-resident Ghanaians the
right to vote in elections.
February 2008
Ghana's Electoral Commission announces that it would not implement a law that would allow Ghanaians
living abroad to vote in the December 7th 2008 presidential and parliamentary elections due to capacity
constraints.
(An estimated 3 million Ghanaians live outside of the Ghana, 15% of the total population.)
Diplomatic representation in the US:

Chief of Mission: Ambassador Lieutenant General Joseph Smith
Chancery: 3512 International Drive NW, Washington, DC 20008
Telephone: [1] (202) 686-4520 FAX: [1] (202) 686-4527
Consulate(s) general: New York
Diplomatic representation from the US:

Chief of Mission: Ambassador Gene A. Cretz (since 11 September 2012)
Embassy: 24 Fourth Circular Rd., Cantonments, Accra
Mailing Address: P. O. Box 194, Accra
Telephone: [233] 30-2741-000
FAX: [233] 30-2741-389
2|Ghana
ECONOMICS GDP AND STRUCTURE
Annual GDP Growth Rates and Forecast

The performance of the economy, as measured by the rate of growth of Gross Domestic Product (GDP),
averaged an annual growth rate of 4.3% per annum in the 1990s and 6.3% per annum (from 2000 to 2014)
thus far. From 2001 onwards, growth has accelerated and reached a high rate of 14% in 2011, despite the
global financial crisis and economic decline in 2007/2008. Ghana had managed to weather the crisis with its
commodities that remain in high demand cocoa and gold.
For the past three years, Ghanas economic
growth has been characterized by slowing
activity, accelerating inflation, and rising debt
levels. In 2014, Ghana suffered from high
interest rates, a depreciating currency, low
aggregate demand, high inflation (17%) and
an energy crisis. An increasing wage bill,
poorly managed energy subsidies, and
commodity price shocks pushed the
government into high levels of debt. This year,
Ghanas GDP is expected to drop as well (for
the fourth year since 2011) due to the dip in
world oil prices, the continuing energy crisis,
and budget-tightening measures.
(Source: World Bank Data)
Ghana|3
However, the IMF staff team in Ghana has been working

with the government on a new economic reform program
that would provide Ghana with a $918 million loan
(approved in April 2015). The program aims to restore
debt sustainability through fiscal consolidation and
support growth via adequate capital/lower financing
costs. According to the IMF, the three pillars of the
program are: restraining and prioritizing public
expenditure with a transparent budget process;
increasing tax collection; and strengthening the
effectiveness of the central bank monetary policy. With
this and Ghanas wealth in cocoa, oil, and gold, Ghana will (Source: World Bank Data, for the fiscal year)
be able to address the energy crisis as well as other issues such as inflation. According to the World Bank,
Ghanas GDP growth rate is expected to begin a slow climb in 2016 after a steady decline since 2011.
Gross National Saving:

21.1% of GDP (2013 est.) country comparison to the
world: 74
17.9% of GDP (2012 est.)
17.5% of GDP (2011 est.)
GDP composition by end use:

household consumption: 64.2%
government consumption: 14.2%
investment in fixed capital: 31.7%
investment in inventories: 0.7%

exports of goods and services: 50.2%
imports of goods and services: -61% (2013 est.)
Sources: World Bank Data, CIA Factbook
https://www.imf.org/external/np/sec/pr/2015/pr15159.htm
http://www.imf.org/external/pubs/ft/survey/so/2015/CAR022615A.htm
4|Ghana
ECONOMICS BY SECTOR
Distribution of Gross Domestic Product (at Basic Prices) by Economic Activity (%)
2006
2007
2008
2009
2010
2011
2012
2013
2014
Agriculture
30.4
29.1
31
31.8
29.8
25.3
22.9
22.4
21.5
Crops
21.3
20.3
22.4
23.6
21.7
19.1
17.2
17.4
16.8
2.7
2.5
2.5
3.2
3.6
2.6
2.2
2.2
Livestock
2.5
2.3
2.1
1.8
1.6
1.4
1.2
Forestry and Logging
4.1
4.2
3.7
3.7
3.7
2.8
2.6
2.2
2.3
Fishing
2.5
2.3
2.7
2.5
2.3
1.7
1.5
1.4
1.2
20.8
20.7
20.4
19
19.1
25.6
28
27.8
26.6
2.8
2.8
2.4
2.1
2.3
8.4
9.5
9.4
0.4
6.7
7.7
8.2
7.2
10.2
9.1
7.9
6.9
6.8
6.9
5.8
5.3
4.9
Electricity
0.8
0.6
0.5
0.5
0.6
0.5
0.5
0.4
0.4
Water and Sewerage
1.3
0.8
0.7
0.8
0.8
0.7
0.6
0.5
Construction
5.7
7.2
8.7
8.8
8.5
8.9
11.5
12
12.7
48.8
50.2
48.6
49.2
51.1
49.1
49.1
49.8
51.9
6.4
6.1
5.9
6.2
5.9
5.6
5.8
5.6
5.6
6.2
5.4
4.8
5.8
5.6
13.2
13.1
11.4
10.5
10.6
10.7
11
11.2
12.3
Information and communication
2.7
2.4
2.2
1.8
1.9
1.8
2.2
1.7
2.3
Financial and Insurance Activities
2.7
3.4
3.8
4.3
5.2
4.4
4.7
6.5
8.4
Real Estate, Professional, Administrative &

Support Service Activities
5.1
4.7
4.1
4.1
4.5
4.6
4.8
3.9
3.6
Public Administration & Defense; Social

Security
4.8
5.9
6.3
6.8
5.9
5.4
Education
3.7
3.9
3.9
4.2
4.3
4.1
4.3
3.6
3.6
Health and Social Work
1.4
1.4
1.3
1.4
1.6
1.3
1.3
1.1
Community, Social & Personal Service

Activities
3.7
3.7
3.6
3.7
3.9
3.7
4.3
4.1
Gross Domestic Product at basic prices
100
100
100
100
100
100
100
100
100
Cocoa
Industry
Mining and Quarrying
Oil and Gas
Manufacturing
Services
Trade; Repair of Vehicles, Household Goods
Hotels and Restaurants
Transport and Storage
The structure of the economy has remained fairly unchanged over the years. However, there is a gradual shift
from the Agriculture sector to the Services sector. Once the largest sector in GDP composition, the Agriculture
sector has consistently taken second place to the Services sector in recent years. The Services sector, since
2006, has remained consistently above 45% of GDP. Meanwhile, the Industry sector continues to grow, in
particularly due to the 2010 oil discovery.
(Source: Ghana Statistical Service)
Ghana|5
Growth Rates of Domestic Product at 2006 Constant Prices (%)

2007
2008
2009
2010
2011
2012
2013
2014
Agriculture
-1.7
7.4
7.2
5.3
0.8
2.3
5.7
4.6
Crops
-1.3
8.6
10.2
5.0
3.7
0.8
5.9
5.7
-8.2
3.2
5.0
26.6
14.0
-9.5
2.6
4.3
4.7
5.1
4.4
4.6
5.1
5.2
5.3
5.3
Forestry and Logging
-4.1
-3.3
0.7
10.1
-14.0
6.8
4.6
3.8
Fishing
Cocoa
Livestock
-7.2
17.4
-5.7
1.5
-8.7
9.1
5.7
-5.6
Industry
6.1
15.1
4.5
6.9
41.6
11.0
6.6
0.8
Mining and Quarrying
6.9
2.4
6.8
18.8
206.5
16.4
11.6
3.2
21.6
18.0
4.5
-1.2
3.7
-1.3
7.6
17.0
2.0
-0.5
-0.8
- 17.2
19.4
7.5
12.3
-0.8
11.1
16.3
0.3
1.2
0.8
7.7
5.3
2.9
2.2
-1.6
-1.1
23.1
39.0
9.3
2.5
17.2
16.4
8.6
0.0
Services
7.7
8.0
5.6
9.8
9.4
12.1
10.0
5.6
Trade; Repair of Vehicles, Household

Goods
5.4
9.5
5.4
13.3
11.0
11.3
14.5
1.6
Hotels and Restaurants
2.5
9.1
-3.8
2.7
3.6
5.7
24.6
-1.2
Transport and Storage
9.2
3.8
4.4
8.0
11.0
9.2
-0.5
0.3
Information and communication
4.1
19.5
3.9
24.5
17.0
41.5
24.3
38.4
18.4
10.8
9.3
16.7
1.0
21.9
23.2
22.9
Real Estate, Professional, Administrative

& Support Service Activities
3.2
0.0
0.2
13.9
14.0
18.3
- 17.5
-1.5
Public Administration & Defense; Social

Security
11.3
12.7
11.7
3.4
7.4
4.2
8.4
-4.7
Education
10.0
13.0
12.4
5.3
3.8
6.7
6.9
7.1
Health and Social Work
3.8
4.4
15.2
11.2
5.0
10.9
7.8
-1.7
Community, Social & Personal Service

Activities
8.9
9.2
7.5
10.8
12.9
4.2
36.5
-1.6
10.8
16.1
41.4
7.9
13.4
12.4
29.5
6.0
Gross Domestic Product at basic

prices
4.3
9.1
4.8
7.9
14.0
9.3
7.3
4.0
Net Indirect Taxes
4.3
9.1
4.8
7.9
14.0
9.3
7.3
4.0
Gross Domestic Product in purchasers'

value
4.3
9.1
4.8
7.9
14.0
9.3
7.3
4.0
Oil and Gas

Manufacturing
Electricity
Water and Sewerage
Construction
Financial and Insurance Activities
FISIM (Financial Intermediation Services

Indirectly Measured)
Despite the fact that the Agriculture sector has a significant share in GDP, its growth rates have generally been
below overall GDP growth rates. The GDP growth rates experienced in recent years were due to the growth in
the Services and Industry sectors of the economy.
6|Ghana
Agriculture
(More under Opportunities and Challenges)
As for the Agriculture sector, the cocoa crop had the most significant impact, especially in 2010. However,
Ghanas crop production is highly susceptible to poor weather, as indicated in 2007.
Agricultural modernization is expected to be the most important driver of growth. Productivity will result from:
adoption of high yield crops, improved seedlings, use of pesticides and spraying technologies, and mass spraying
in the cocoa sector. Additional growth is anticipated from the increased farming acreage due to: improved
irrigation, subsidized inputs, improved mechanization services along the value chain, improved marketing,
improved extension services, and improved institutional coordination for agricultural development.
Industry
The industry sector is catching up to the Agriculture sector, surpassing it in most recent years. The main
drivers of this sector are: manufacturing, oil and gas, and construction sub-sectors, probably resulting from
the Bui Dams operations, production of gas to generate thermal energy, and an increase in salt production to
meet industrial demand (mining subsector).
Mining
The largest source of export earnings (before oil) comes from gold and other minerals. Gold alone accounts
for approximately 45% of total exports (2008 estimates). Ghanas gold reserves lie in the Ashanti region (which
is mined), and the Western and Central regions (alluvial). In recent years, investment in new mines and
expansion of existing ones have pushed gold production in a steady upwards trend. However, there are
tensions between mining companies and residents in the area which occasionally result in violence. Civil
society groups in Ghana worry that the level of profit that mining companies receive are not proportionately
consistent with the amount received by the government and local communities.
Ghana is also one of the worlds largest exporters of manganese. However, growth in this subsector is
constrained by the lack of reliable railway services and infrastructure.
(Source: https:/atlas.media.mit.edu/en/profile/country/gha/)
Ghana|7
Construction
One of the largest subsectors and comprising of 12.7% of Ghanas 2014 GDP, construction includes roads,
highways, bridges, coastal works, and housing. Many of Ghanas roads are being rehabilitated and new feeder
roads are under construction. Both local and foreign companies have undertaken the task, but foreign firms
predominate because they possess the necessary machinery and expertise. Historically, growth in this
subsector was heavily dependent on government contracts, but now, a growing private sector demand for
housing is causing a boom in the construction subsector.
Services
This sector depends on growth in the Agriculture and Industry sectors. Currently, the growth points of the
Services sector lie in the Trade; Repair of Vehicles, Household Goods, Information and Communication, as well
as the Financial and Insurance Activities subsectors. Though significant, these growth rates alone do not
sufficiently complement agricultural and manufacturing production on a scale needed to create sustainable
employment, according to the IMF.
Still, the development of the oil and gas industry should positively impact the Services sector. In particularly,
the hotel and restaurants, transportation, banking and insurance subsectors. These subsectors are
anticipated to be the main growth drivers in this sector.
8|Ghana
INVESTING IN GHANA
Foreign Direct Investments

Attracting FDI is a priority for Ghana. Inward foreign direct investment (FDI) has steadily increased over the
years, with inflows at US$ 58.9 million to US$ 3222.25 million in 2011. The GIPC or Ghana Investment
Promotion Center Act of 1994 (Act 478) governs investment in all sectors except minerals and mining, oil and
gas, and the Free Zones. Sector- specific laws regulate banking, non-banking financial institutions, insurance,
fishing, securities, telecommunications, energy, mining, and real estate. Foreign investors must satisfy both
GIPC laws as well as sector specific laws.
Ghana does not discriminate against foreign-owned businesses. In fact, in projects where foreign investment
is deemed critical to Ghanas development, the foreign investors may receive additional incentives. Though
GIPC states that new investments have a 5 day waiting period prior to receiving registration, this period is
often significantly longer (up to one month).
Establishing a business in Ghana is a complex and lengthy process. Foreign investors are not required to have
local partners except in certain sectors: fishing, insurance, and extractive industries. (Of course, in any mining,
oil and gas venture, the government automatically owns 10% of the interest.)
Ghana|9
GIPC requires foreign investors to satisfy a US$ 10,000 minimum for joint ventures or a US$ 50,000 minimum
for a wholly foreign owned enterprise. (Despite the complexity involved, there have been no reported cases
of creeping expropriation the government squeezing a project via taxes etc. against the Ghanaian
government.)
(Source: 2013 Investment Climate Statement Department of State,
http://www.state.gov/e/eb/rls/othr/ics/2013/204648.htm)
International/Foreign Import/Export
Exports
US $
Commodities
Partners
$13.37 billion (2013 est.)

country comparison to the
world: 83
oil, gold, cocoa, timber, tuna,

bauxite, aluminum,
manganese ore, diamonds,
horticultural products
France 13.6%, Italy 12.4%,

Netherlands 8.9%, China
7.4%,
Germany 4.3%
(2012)
capital equipment, refined

petroleum, foodstuffs
China 25.6%, Nigeria 11%,

US 7%, Netherlands 6.2%,
Singapore 4.5%, UK 4.1%,
India 4%
(2012)
$13.54 billion (2012 est.)

Imports
$18.49 billion (2013 est.)

country comparison to the
world: 80
$17.76 billion (2012 est.)
(Source: CIA Factbook) These numbers differ somewhat from the MIT data above.
Foreign Direct Investment Statistics (FDI)
Inflation rate (consumer prices):

11% (2013 est.) country comparison to the
world: 211 9.2% (2012 est.)
Commercial bank prime lending

rate:
27% (31 December 2013
comparison to the world: 13
est.)
country
22.8% (31 December 2012 est.)
Market Value of publicly traded

shares:
$3.465 billion (31 December 2012 est.) country
comparison to the world: 93
$3.097 billion (31 December 2011)
* Provisional data as at the end of March 2012
(Source: 2013 Investment Climate Statement, Department of State)
10 | G h a n a
$3.531 billion (31 December 2010 est.)
ECONOMICS INFORMATION AND

COMMUNICATION TECHNOLOGY
Between 1992 and 2004, fixed line subscriptions

per 100 people has increased 227% (from 1.69 to
3.68 per 100 individuals) while internet usage has
increased by 2869% (from 1.13 to 32.60 per people).
According to the Economist, the mobile phone is
what will transform the economies of Africa as the
personal computer transformed the economies of
Asia. Mobile phone usage has narrowed the gap
between the developing world and the developed
world. They 1) provide access to information and
improve coordination, 2) provide access to
communication which increases efficiency in supply
chain management, 3) create new jobs for relevant
services, which will affect both urban and rural

areas, 4) increase general delivery of financial,
health, and educational services. (For example,
farmers in Tamale are able to send a quick text
message to learn the price of corn in Accra.) Mobile
telephones in Ghana have grown exponentially. In
2009, 267,400 had landlines, but 15.11 million had
mobile phones. The numbers are certainly even
higher now.
Information and communication technology
infrastructural
development
in
Ghana
is
progressing at a rate above the 1.1% average for
Sub-Saharan Africa and is on par with other low-
G h a n a | 11
income countries globally. Pre-1992, Ghana only

had one state-owned telecommunication company,
but the industry has since grown dramatically. The
privatization of Ghana Telecom in 1996 was the
catalyst of growth for not only mobile company
investment, but for internet as well as fixed line
sectors. Ghana was the second country in subSaharan Africa to possess full internet access. By
2000, there were 30,000 internet users, which
increased to a million in 2008.
(GT was privatized to Vodafone in 2008. Westel, the
second national operator was reprivatized as a
member of the Zain Group in 2007. The Zain Group
a leading mobile operator, was then taken over by
Bharti Airtel in India in 2010.)
Recently, Ghana was ranked by AT Kearney Global
Services Location Index as the most preferred
business destination in Sub-Saharan Africa for BPO.
Out of 51 countries, Ghana ranked 29 worldwide in
2014. India was first, then China, followed by
Malaysia and Mexico. Ranks are based on 1)
financial attractiveness, 2) people skills and
availability, and 3) business environment.
Technology skills are in high demand for BPO, but
Ghanas universities only graduate approximately
300 students in computer science and engineering
each year. However, the Ghanaian government has
been improving the countrys ICT infrastructure by
partnering with various foreign governments and
domestic/foreign organizations.
In 2010, President John Atta Mills visited

China, spurring a $4 million donation of ICT
equipment from Huawei Technologies
Company Limited of China. ($3 million in
video conferencing equipment for the
government
and
assistance
in
eGovernment projects, $1 million in
telecommunication equipment for KNUST,
UG, and University of Cape Coast.)
More recently, work on the Eastern Corridor

Rural Fiber Optic backbone network project
added 775 km of optic fiber, linking the
north, south, and internal submarine
12 | G h a n a
gateways via the eastern corridor, including

70 plus towns. The project was financed by
the Danish International Development
Agency (DANIDA). William Tevie, the Director
General of NITA (National Information
Technology Agency ICT policy arm of
Ghanas ministry of communication) said
that the project will attract new
businessesand bridge the digital divide
between rural and urban locations and
create employment.
The Better Ghana ICT Project is part of the

governments commitment to science,
technology and innovation. The Ministry of
Environment, Science, Technology and
Innovation is collaborating with the Ministry
of Education, Ministry of Communication
and GETFund to distribute free laptops to
students. The aim is to boost local
participation in ICT education and sector.
The Kofi Annan ICT Center of Excellence, a

joint Ghanaian and Indian project aims to
produce the human capacity resource
needed for the ICT industry in Ghana.
The
government recently signed an

agreement with Microsoft Corporation to
provide resources to improve ICT education
in Ghana.
Vodafone Ghana recently launched the

fastest internet caf in Africa, running at 40
plus megabytes per second, and is able to
seat up to 100 customers. The new
Vodafone Internet cafes and retail stores
can be found in Cantonments (area in
Accra), Accra, Tema, Koforidua, Ho, Tamale,
and Takoradi.
As a result of the increase in ICT activities, foreign
companies such as Affiliated Computer Services,
Data Management International Inc., Rising Data
Solutions, Global Response, Busy Internet, AQ
Solutions, and Supra Telecom have been attracted
to Ghana.
Mobile phone ownership is most highly concentrated (27.2%) in the Greater Accra region,
indicating the level of sophistication. Ashanti comes in second at 23.1%.
In 2010, 75% of Greater Accras urban population had mobile phones. This is the highest in the country.
Interestingly enough, US adult cell phone ownership was at 65% in 2004, and only rose to 91% in May 2013.
(Source: http://www.pewresearch.org/fact-tank/2013/06/06/cell-phone-ownership-hits-91-of-adults/)
In 2014, it appears that Ghana as a whole, has 83% cell phone ownership, and Accra probably has an even
higher percentage. Ghana is quickly catching up to the US, which ownership is still around 90%. The main
difference is that 64% of US cell phone users have smartphones while only 14% have smartphones in Ghana.
(Source: http://www.pewglobal.org/2015/04/15/cell-phones-in-africa-communication-lifeline/africa-phones-5/)
G h a n a | 13
Household ownership of desktop and laptop computers is indicative of economic ability. Greater
Accra has the highest desktop/laptop ownership, 16.8%.
(Source: 2010 Population & Housing Census National Analytical Report)

Sources:
http://allafrica.com/stories/201505200562.html
http://techcabal.com/2015/05/20/alcatel-lucent-and-nita-complete-eastern-corridor-rural-fibre-optic-backbone-project-in- ghana/
http://www.gipcghana.com/invest-in-ghana/why-ghana/infrastructure/ict-infrastructure.html
https://www.atkearney.com/documents/10192/5082922/A+Wealth+of+Choices.pdf/61c80111-41b2-4411-ad1e- db4a3d6d5f0d
14 | G h a n a
ECONOMICS EMPLOYMENT
Economic Activity status of the population

In 2010, 43.9% of the total population was economically active. This is not a significant difference from
previous years. According to this particular study, the economically active population is defined as persons
five years and older who engaged in any activity for profit/pay/gain for at least one hour during the seven
days prior to the census, persons who had a job to return to (if was not working at the moment), and persons
unemployed but actively seeking work. Most recent numbers place the active population to be 14.04 million.
These are 2013 numbers, so we use 25.9 million as the total population. 14.04/25.9 = 54.2% of the population
in 2013 was economically active. Ghana is catching up.
G h a n a | 15
Ashanti may have the highest population concentration (19.4%) and the highest percentage of economically
active population (19.1%), but Accra possesses only 16.4% of the population and 18.1% of Ghanas
economically active population.
16 | G h a n a
Though the percentage of economically inactive population has not changed over the years, the distribution
of the economically inactive by function has shifted dramatically. For example, Home maker has dropped from
68.3% of the population to 21.6% of the population from 1960 to 2010.
G h a n a | 17
Total employment as a percentage of the total population has not improved much in five decades. (38% of the
population was employed in 1960 and 41.5% in 2010.) However, there has been increased improvement in
the past few years, jumping from 41.5% to 54.2% in just three years.
18 | G h a n a
Industry Group
People seem open to training in Ghana. There is definitely a trend of growth. In 1960, 81.6% of the employed
person had no formal education, and in 2010, only 33% had no formal education. However, the top industries
of employment are still agriculture, forestry, and fishing, though agriculture is no longer the largest producing
sector of GDP.
G h a n a | 19
(Source: Ghana Statistical Service GLSS 6)

In just a few short years, the total employed in agriculture dropped significantly. In 2010, 69.4% were engaged
in agriculture, in 2012-13, only 44.7%.
20 | G h a n a
EDUCATION/LITERACY
The Minister of Education is on record stating his Ministry aims to

ensure that education makes a positive and permanent
contribution to Ghanas national development plans and to
achieving the international development goals. The current
strategy is aligned to the broad goals of universal basic education
and poverty reduction. It attempts to actualize the Ministrys
mission To provide relevant education with emphasis on science,
information, communication and technology to equip individuals
for self-actualization, peaceful coexistence as well as skills for the
workplace for national development.
The area with the highest percentage of literacy is the Greater
Accra region, with 89.3% of its population literate. Greater Accra has one of the lowest illiterate populations
by area, indicating that it is a good candidate for further development. It is also worth noting that 45.8% of all
Ghanaians are literate in both the English and Ghanaian language.
G h a n a | 21
The population 6 years and older that has never attended school is lowest in the Greater Accra region (10%).
Studies indicate that there is a positive correlation between being employed and higher education. This bodes
well for Greater Accra.
(Source: Ghana Statistical Service, GLSS 6)

Accra has the highest school attendance rates, making it an ideal area for BPO.
22 | G h a n a
G h a n a | 23
OPPORTUNITIES AND CHALLENGES TO ECONOMIC

GROWTH AND DEVELOPMENT
Agriculture
Domestically oriented industries can only grow if income grows and consumption subsequently increases.
Rapid growth in these non-traded industries are the result of broad-based growth including agriculture.
According to a paper by the Organization for Economic Co-operation and Development, recent agricultural
output growth was not driven by productivity. Instead, it was driven by an increase in land holdings. This fact
alone does not bode well for Ghana. However, with an increase in land holdings, there will be an increase in
labor demand. Combined with recent urbanization trends and hence loss of labor supply/change of lifestyles,
Ghana will develop a strong mechanization demand. (With urbanization, there will be a change in food
patterns and a market for ready-made food, spurring an increase in agriculture productivity demand, which
will inevitably be fulfilled by mechanization.)
24 | G h a n a
Other issues include: Crop yields were highly dependent on rainfall and only 3% of Ghanas total crop area
was irrigated, which amounts to less than 20% of Ghanas potential for irrigation. Yields of most crops were
still below what they could be and there was little modern technology adoption in agricultural production.
This is starting to change. Several representative surveys have captured increases in mechanized plowing. A
World Food Program survey conducted in Northern Ghana reported that 46% of households were using
tractor services in 2008. In 2009, another survey conducted in the Northern region (tractor services are more
common than in the south), 77% of interviewed farmers reported using tractor services. A 2010 survey
conducted by IFPRIs Ghana Strategy Support Program in four northern region districts indicated that 95% of
interviewed maize farmers used tractor services. (The table below shows that tractor users are increasingly
significant. 2013 data.)
Other areas of concern include Ghanas dependence on a select few agricultural products and mineral
resources for export exposes Ghana to international price volatility. (Cocoa and gold alone account for
approximately 2/3 of export revenues.) Ghana is the second largest producer of cocoa in the world. In fact,
Ghana controls 21% of the worlds cocoa market.
However, the demand and growth of mechanization will spur agricultural productivity in general, not just for
the cocoa crop. More productivity will allow for more diversification, and make crops less susceptible to
uncontrollable weather patterns.
Sources:
http://blogs.worldbank.org/africacan/science-technology-and-innovation-agriculture-pivotal-africa-soverdue- transformation
G h a n a | 25
http://www.ghananewsagency.org/science/agricultural-sector-contribution-to-gdp-falling-minister-73989
IMF Staff Report Ghana: Poverty Reduction Strategy Paper
Economic Importance of Agriculture for Sustainable Development and Poverty Reduction: Findings from a
Case Study of Ghana (OECD paper)
Mechanizaiton in Ghana: Emerging demand, Food Policy
Energy
Power supply has consistently been an issue facing
Ghana. Though coverage has consistently
increased over the years, there is still much to be
desired.
Power Coverage
Year
Power Coverage
2003
44%
2008
56%
2010
61%
2012
64%

Ghana power supply is persistently obtained from
hydropower (70% of domestic power produced is
hydroelectrical), yet hydropower is highly
susceptible to climate patterns. In 2006 to 2007,
Ghana suffered low rainfall, affecting the
Akosombo Reservoir yield. Four out of six of
Akosombo dams turbines were shut down,
reducing output by 70%. There was on average 116
days of power outages in 2007. The power outage
benchmark for the low income peer group was 40
days at the time. Energy intensive companies, such
as the aluminum industry, were forced to suspend
production. Mining sectors were forced to cut
production by 25% until the crisis was over. The
International Bank for Reconstruction and
Development estimates a loss of 1.9% of GDP in
2006 as a result of the outages.
Ghanas reliance on hydropower leaves it exposed
to hydrological shocks. When rainfall is low, Ghana
will be forced to rely on other sources of power.
This can cause a sudden price jump. Hydropower
26 | G h a n a
usually costs $0.05 per kilowatt hour while average

oil-based generation has exceeded $0.20 per
kilowatt hour. Ghana should diversify on gas, which
usually ranges $0.06-0.08 per kilowatt hour.
Recent outages are still a problem. Outages lasting
as long as 48 hours have been consistently a fact of
life in Ghana since 2012. Industries are laying off
workers, and cold store operators are fuming over
ruined produce. The Electricity Company of Ghana
continues to receive criticism for not following their
supply regulation timetable. The Volta River
Authority, or VRA, which provides power to the ECG
has projected that $1.5 billion is needed to improve
the countrys power generation. There is no doubt
that Ghanas economic growth is at risk due to
these power issues. According to Ghanas Chamber
of Commerce and Industry, as many as 5,000
workers could lose their jobs by September 2015 if
the situation does not improve.
Despite the seemingly dire situation, there is hope.
The US Ambassador to Ghana, Gene Cretz, has
expressed optimism. The United States is expected
to release $498.2 million through the Millennium
Challenge Compact Fund over a 5 year partnership
with Ghana (Ghana Power Compact).
The Millennium Challenge Corporation is a part of
Power Africa, which was launched in 2013 and
composed of 12 US federal agencies that work with
African governments and the private sector to
address concerns of low electrification rates and
high investment requirements. The MCC expects to
invest $2 billion in order to support Power Africa,
and the aim is to improve the quality and reliability
of electricity.
More specifically, under the Ghana Power Compact
(part of MCC), Ghana has agreed to allow for the
private management of ECG to increase efficiency.

The Compact is expected to provide Accra with the
resources needed to provide enough power for
sustainable
economic
growth.
Ghana
is
contributing $37.4 million of its own money (so that
it may obtain the full $498.2 million), and Accra
alone is expected to receive $4.6 billion from
American and private investment firms in future
years. Ghanas Minister of Finance and Economic
Planning says this is what is needed to bring Ghana
to the next level as an international economic
player.
(Even so, MCC has yet to disburse funds this year
since the Ghanaian government has yet to meet
some provisions, such as drafting a plan to pay its
debts to ECG Electrical Company of Ghana and
publishing a call for proposals for privatization. The
Accra government may also lose $133 million in tax
revenue due to the deal because the MCC compact
includes tax exemptions for the private sector
involved with any MCC activities. This is incentive
for private investors, but an initial short-term loss
for the Ghanaian government, though the longterm gains will be significant.)
thermal power facility and is estimated to be

completed in September of 2016. GE has intimated
that it hopes to make Ghana a major hub for its
power business in Africa.
Additionally, In April 2015, the IMF approved a $918
million loan to Ghana, aiming to boost growth,
strengthen fiscal discipline, and slow inflation.
According to the IMF, a sizable and frontloaded
fiscal adjustment will restore debt sustainability
and assist in preserving financial stability.
As of July 30, 2015, the World Banks Board of
Directors approved a record investment of $700
million in guarantees for Ghanas Sankofa Gas
Project. The project will help address the dire
energy problems by developing sources of natural
gas for domestic power generation. It is expected
that this project will mobilize $7.9 billion in new
private investment for offshore natural gas. This
may very well be the largest foreign direct
investment in Ghanas history. The Sankofa Gas
project is located 60 km offshore and is expected to
fuel up to 1000 megawatts of clean power
generation, starting in 2018.
General Electric has recently began talks regarding

a $1 billion project that will lead to a 1200 megawatt
G h a n a | 27
Most lighting is electrically generated in urban areas, and is not privately generated, meaning it is reliant upon
the ECG, and thus inherently more susceptible to Ghanas reliance on hydropower. However, as
aforementioned, this will all began to change soon.
Sources:
http://www.theafricareport.com/West-Africa/electricity-ghanas-power-crisis-deepens.html
http://www.theguardian.com/world/2015/may/17/ghanas-celebrities-lead-protest-marches-against-ongoing-energy-crisis
http://www.ghanaweb.com/GhanaHomePage/NewsArchive/Energy-crisis-will-end-soon-Cretz-364269
http://data.worldbank.org/indicator/EG.ELC.ACCS.ZS
http://www.imf.org/external/pubs/ft/survey/so/2015/CAR040315A.htm
Economist Intelligence Unit Country Profile: Ghana

http://www.voanews.com/content/ghana-oil-economy-mcc-compact-partnership-power-energy/2744666.html
https://www.mcc.gov/pages/docs/doc/factsheet-mcc-and-power-africa
http://www.ghanaweb.com/GhanaHomePage/NewsArchive/How-MCC-Compact-benefits-power-consumers-320183
http://www.theafricareport.com/West-Africa/ghanas-slow-progress-on-privatisation.html
28 | G h a n a
Oil and Gas

Commercial quantities of oil and gas discovery in June of 2007 have positioned Ghana to become a major
player in the international oil and gas trade. Africa in general is also no longer a marginal player in the oil
industry. A U.S. Department of Energy study projects that African oil production would rise 91% between 2002
and 2025. Additionally, African oil tends to be of higher quality. In other words, it is lower in sulfur and is used
for processing into gasoline, making it highly desirable. (The United States already obtains 10.3% of its oil from
Africa, 5.2% of which comes from Nigeria alone according to 2012 numbers.) The Chinese have seen the merit
of African oil and now obtains almost one third of its imported oil from Africa.
(Source: http://csis.org/story/africa-china-united-states-and-oil,
http://www.npr.org/2012/04/11/150444802/where-does- america-get-oil-you-may-be-surprised)
Though the impact of oil is strong and seemingly beneficial, it would be prudent for the Ghanaian government
to manage the oil sectors effect on inflation and avoid exchange rate appreciation, which would lead to a
decrease in exports and increase in consumption goods imports. In other words, the Dutch Disease.
Optimistically, the government will use the oil and gas industry revenues to adopt policies that enhance
domestic productivity such as policies encouraging capital goods imports. Much needed investments include:
roads, cost-efficient and reliable energy supplies, storage facilities, and irrigation.
(Note: Ghana is uniquely endowed with many natural resources: gold, oil and gas, diamond, salt, bauxite,
limestone, iron ore, and manganese. These valuable resources poise Ghana to be one of the few countries
that, if managed well, have the ability to leverage those natural resources and leap forward in economic
growth.)
G h a n a | 29
Nature resources
(Source: Africa Infrastructure Country Diagnostic)
30 | G h a n a
DEMOGRAPHICS
Population
The population of Ghana is rapidly growing. From 2000 to 2010, there was a 30.4% increase. Ofen eclipsed by
its rapidly-growing neighbor, Nigeria, Ghanas favorable demographics are positive indicators of longer term
economic gains. Paired with a stable political environemnt, improving governance, and a robust education sector;
Ghanas demographics benefit from a significant multiplier effect.
G h a n a | 31
32 | G h a n a
Greater Accra has grown, from housing 7.9% of the total population in 1960 to 16.3% of total population in
2010. Taking into account the actual population increase, that is a significant number.
Regionally, Greater Accra has one of the highest annual population growth rate from 2000-2010, at 3.1%.
G h a n a | 33
Greater Accra also has the highest population density, by far, (at 1235.8 people per kilometer) while only
occupying 1.4% of Ghanas land area.
90.5% of the population in Greater Accra is urban. This is by far the highest urban concentration in Ghana.
(Source: 2010 Population & Housing Census - National Analytical Report)
34 | G h a n a
Population Migration
The highest concentration of the Non-African population is in Ashanti (20.9%), but Greater Accra comes in a
close second at 19.74%. Non Ghanaians in general are concentrated in the Greater Accra region.
Migration rates by region show that Greater Accra has experienced a low 12.19% out-migration rate while
experiencing a very high 40.72% in-migration rate, the highest of all regions. With such a high migration rate,
it will be a challenge for housing development to keep pace. (In-migration rate refers to the rate at which
people move into an area within a period and out-migration is the opposite.)
International Migration
According to 2010 Census, there are 398,585 immigrants in the country. Interestingly enough, 4 of 10
immigrants in Ghana never attended school. This suggests nearly half of immigrants into Ghana are not from
developed countries. However, 93% of the immigrant population lies within the economically active age group,
(45% of which are between the ages of 15 and 29 years). 67.8% of the immigrant population was employed
and only 28% were not economically active in 2010. Most of the employed immigrant population were working
as skilled agricultural, forestry and fisheries workers, services and sales workers, all predominantly active in
rural areas.
G h a n a | 35
International Diaspora
The most substantial and recent information out there seems to be a paper written in 2009. According to
census-based data (2000) from receiving countries, there were 957,883 Ghanaian emigrants in 2005, which
was around 4.6% of the population at that time. Over 71% of Ghanaian emigrants resided in ECOWAS
countries. The most common destination for Ghanaian emigrants was Cote dIvoire, Nigeria, and Burkina Faso.
These three nations accounted for a little more than 50% of the total number of Ghanaian citizens residing
abroad. There was also a substantial percentage that went to the US and the UK.
US Ghanaian Diaspora
Currently, approximately 235,000 Ghanaian immigrants live in the US. The number of Ghana-born individuals
in the US accounts for only 0.3% of total US foreign-born population. Only 40% of Ghanaian immigrants
become US citizens. This relatively low number is to be expected since most only settle in the US for a short
length of time, and longer periods of residence are required for naturalization. Nearly 88% of all Ghanaian
immigrants in the US are of working age (from 18 to 64 years of age). This may indicate that many Ghanaians
left their home in search for better economic opportunities.
Ghanaian diaspora are more likely to be in the US labor force. The median income for Ghanaian diaspora
households is $44,000, or $6,000 below the US average of $50,000. Only 18% of these households have annual
incomes over $90,000. 5% of the Ghanaian diaspora households had annual incomes exceeding $140,000
(threshold for top 10% of US households). The largest population of Ghanaian immigrants can be found in the
state of New York, Virginia, New Jersey, and Maryland (in that order). There is also a significant number in
Washington DC as well as Worcester, Massachusetts. There are around 63 US based Ghanaian diaspora
organizations in the US. They serve as a source for networking, charitable institutions providing humanitarian
assistance to Ghanas most vulnerable groups, and or promote Ghanas economic growth. Only one of the
organizations has a revenue in excess of US$ 1 million (the Seattle-based Ashesi University Foundation). The
rest remained below US$ 200,000.
According to this US study, the US is the second most common destination for Ghanaian emigrants and the
primary source of Ghanas remittances, transferring approximately $33 million to Ghana in 2012. (Total
remittances to Ghana in 2012 was $151 million in 2012.)
36 | G h a n a
Emigrating Ghanaian Heath Workers as a Percentage of Those Trained that Year
(Source http://www.migrationpolicy.org/article/ghana-searching-opportunities-home-and-abroad)
Down side, high percentage of well-educated leaving Ghana, but that also means diaspora is well off.
G h a n a | 37
Urbanization
The urban population in Ghana is growing at a steady rate. In 2000, around 8.3 million people were urbanized,
in 2010, that number grew to 12.5 million. That is a 52% increase in the span of 10 years.
38 | G h a n a
The urban annual growth rate, from 1960 to 2010 was the highest in the Upper East Region. In more recent
years, from 2000 to 2010, the highest annual growth rate goes to the Central region. Even so, it is abundantly
clear that Greater Accra has become the major urban center, as it is now 90.5% urban.
G h a n a | 39
The transformation of rural settlements into urbanized areas around the fringes of Accra and Kumasi are the
primary drivers behind high urban growth. Theoretically, urbanization in Ghana is correlated with
industrialization, commercialization, and economic growth. Yet, in Ghana, urban growth has not been
associated with economic transformation. Cities like Accra are unable to keep pace with the rapid population
increase, which leads to inadequate housing stock.
This lack of sufficient housing gives rise to squatter towns with squalid conditions like Sodom and Gomorrah.
However, recent events - the devastating floods in which over 50 people drowned (June 3-4, 2015) and later
that same night, 96 died in an explosion when they took shelter in a downtown gas station from the rain brought the slums to the governments attention. Authorities say the illegal dwellings inhibited the flood flow
and caused the disaster. In response, the government has bulldozed hundreds of business and homes in the
Sodom and Gomorrah neighborhood in order to widen a lagoon to allow for better flood flow. There has been
political and social unrest over this action. Some have even burned down their own homes in protest, indirectly
setting other buildings ablaze.
Others
have enthusiastically
condoned the actions of the
government, saying the NDC did
what the NPP could not. Deputy
Minority Leader, Dominic Nitiwul
has intervened, urging the
Speaker of Parliament to put a
stop to the demolition exercise
and allow residents enough time
to
adequately
vacate
the
premises. Doing so in the first
place would have prevented such
pronounced protests.
(The
Accra
Metropolitan
Assembly and GA West Municipal
Assembly had hoped to move the
previous residents of Sodom and Gomorrah to Pokuase and Amasaman Land, which is claimed by the Council
for Scientific and Industrial Research Animal Research Institute (CSIR-ARI). However, vehement opposition
by CSIR has stalled their efforts.)
Source: 2010 Population & Housing Census - National Analytical Report
http://www.ghanaweb.com/GhanaHomePage/NewsArchive/Ghana-Pulls-Down-its-Biggest-Slum-Sodom-andGomorrah- 363640
https://www.ghanabusinessnews.com/2015/06/24/minister-to-be-summoned-before-parliament-oversodom-andgomorrah-demolition/
http://www.ghanaweb.com/GhanaHomePage/features/Today-sodom-and-gomorrah-tomorrow-nima364203
http://www.ghanaweb.com/GhanaHomePage/NewsArchive/CSIR-Demonstrate-Against-Government-OverPokuase- Amasaman-Land-365054
40 | G h a n a
Household Size
According to the 2010 Census, the average household size was 4.4 persons, a decline from 2000 (5.1 persons).
The Northern region has the highest household size, at 7.1 persons in 1970, and an increase to 7.7 persons
in 2010. Greater Accra, on the other hand, has the lowest household size. (It is curious that Greater Accra has
such a low household size, yet a lack in sufficient housing.) There is also a pattern of higher household sizes
in the savannah zone versus the coastal zone, as well as rural versus urban areas.
More detailed data regarding household size by region.
G h a n a | 41
The distribution of households in general have shifted gradually from the rural regions to urban areas over
the years. For example, in the Greater Accra region, 11.5% of households were located in rural areas during
the 1970s, but by 2010, only 8.3% of households were rural. Taken all together, the effect is more dramatic. In
1970, 67.3% of households were rural. In 2010, only 44.2% of all households were rural.
Household sizes for 2-5 persons have increased whereas household sizes for 1 person and more than 5
persons has decreased. Although, the 1 person household has been erratic over the years, reaching a low in
2000 at 12.6% of all households to a boom in 2010 at 17.6%. It still has not reached 1970 levels (21.2%), but
with the rise in oil and gas, the 1 person household category may yet still see much growth.
42 | G h a n a
In most regions, housing is owner occupied, with the exception of Greater Accra, where most housing is rental.
There must be a greater market for rental homes in more densly populated areas.
G h a n a | 43
HOUSING
Housing is seen quite differently in Ghana than it is in Western societies. It is traditionally, non-marketable, or
not seen as an investment. One study draws an analogy for selling a house as selling ones grandmother. Tools
can be sold when they are no longer needed or in cases of extreme need, but never, under any circumstances
would you sell a family member.
Once a house is built, and a family is ready to move to a new one, the only investment potential is rental
income. Since residential housing is rarely torn down and rebuilt, it is particularly difficult for urban area
investors to demolish and redevelop, despite potential for profit. This issue is the subject of much debate.
However, the tradition of housing retention does not seem to hold in Accra.
In 1960, Ghana had 636,189 houses, and by 2010, Ghanas housing stock had grown to 3,392,745. The annual
growth in housing stock between 2000 and 2010 was 4.4%. It must be higher now, given Ghanas recent
economic growth. The lowest annual growth in housing was in 1970-1984, a period in which there was a near
collapse of the economy due to political instability. The three regions with the highest growth rates were
Ashanti (5.6%), Greater Accra (5.0%), and Upper West (4.6%). Lowest annual growth rates were Upper East
(2.5%), Northern (3.7%), and Western (3.8%).
Since the mean number of persons per house in Ghana steadily decreased from 10.0 in 1984 to 8.7 in 2000
to 7.3 in 2010, this must indicate that housing is slowly catching up to demand. The most significant areas of
44 | G h a n a
decline were in the Ashanti region (10.1 persons to 8.4), the Upper West region, and Greater Accra region. This
might be an indication of increases in economic growth and subsequently income and affordability.
The below table shows displays the population distribution next to the number of houses in the area, as well
as other data.
Ghanas average household size was 4.4 persons in 2010. This varied widely between regions. In the Northern
region, the average was 7.7 persons per household. In Greater Accra, 3.8 persons per household. 1
Household size is different than persons per house. Ghanaians seem to live comfortably with more than one household in a house.
G h a n a | 45
Types of Housing
Type of Dwelling: 2000 to 2010
In 2010, there were approximately 5.8 million dwelling units, of which 94% were occupied. Over half of all
dwelling units were compound houses in 2010 (51.5%), whereas in 2000, 44.5% were compound houses,
suggesting that compounds are becoming more popular than they already are. Semi-detached houses, on the
other hand, experienced a sharp decline in proportion of dwelling units (from 15.3% in 2000 to 7.1% in 2010).
The proportion of flats or apartments remained relatively unchanged (4.4% in 2000 and 4.7% in 2010).
Room Occupancy
Single room households increased from 38% to 44.5% (2000 to 2010) while the proportion occupying 4 or
more rooms decreased from 26% to 19.1% (2000 to 2010). An increase in single room households could
indicate either a lack of space, increasing urbanization by younger populations, or some other change in social
dynamics. 51.4% of households in urban localities occupied one room while 35.9% of households in rural
localities occupied one room.
46 | G h a n a
Housing Ownership
In 2010, 47.2% of all dwelling units were owner occupied, yet in 2000, owner occupied housing was at 57.4%.
At the same time, the proportions of rentals went up 10%. Initially, this might indicate an increase in pricing
and lack of affordability. However, upon further inspection, looking at the owned by household member
percentage only dropped from 57.4% in 2000 to 52.7% in 2010. This is most likely an indication of population
increase and demand falling behind. Another possibility would be the influx of remittances into Ghana.
Relatives living abroad build homes and allow their family members to occupy them. It might be worth noting
that in Greater Accra, 40.8% of all dwelling units were owned by private individuals who were not the
occupants.
Housing Market
Housing in Ghana is clearly demarcated into two types. One is the formal and the other informal. Formal
properties are built by state agencies, real estate developers, and formal contractors. Informal properties are
built by individuals. More specifically, three main housing markets exist. 1) Older housing built by deceased
family members which are usually in compound style. 2) Individual villa-style houses which are high cost. 3)
Estates built by real estate developers and parastatal organizations for sale to both private and public
employees as well as wealthy individuals.
In the top end of the housing market, half are owned by Ghanains who had worked abroad or were abroad.
More specifically, 25% are owned by returnees (who had spent an average of 13 years abroad), and 22% are
owned by non- resident Ghanaians. Non resident Ghanaians prefer to buy an estate instead of going the
traditional route of contracting workers and building one. Private-sector estate buildings often require a
rigorous payment schedule: 40% down payment, 40% at roofing, and 20% completion payment. GREDA
estimates that around 300 to 500 of these top end houses are sold by them annually. Precise figures are
difficult to obtain.
G h a n a | 47
Housing Cost
Housing is perceived to be excessively expensive in Ghana. Typically, an affordable house-cost to income ratio
would be 4 or 5. 2 is low, and 10 is unaffordable. UN-Habitat claims that Accra has a house-cost to income
ratio of 14 to 1. However, it is worthy to note that expenditure data often surpasses income data by 2.4 times;
most households occupy only part of a house, and housing-cost data might be skewed towards the most
expensive houses.
Selected House Prices in Accra 2007
Affordability Analysis from Karely, Adjusted to 2010 prices (GHC)
Employment status of occupants of high-income housing in Accra (%)
48 | G h a n a
Renting
41% of all urban households live in rented housing. Most landlords are private sector, with only 2% being
public sector. Due to previous heavy rent control since 1943, rent is now fairly low. Even so, rent is still
perceived as high compared to per capita income, especially since landlords usually require 2 to 3 years of
rent in advance.
Below is a sample of how much parastatal organizations charge per year for rent. SSNIT stands for Social
Security and National Insurance Trust. TDC stands for Tema Development Corporation. SSNIT is a government
organization that administers the National Pension Scheme. TDC is a government organization set up to
manage 63 square miles of public land and manage the resulting town or center for those engaged in those
operations.
Annual rents for housing allocated by parastatal organizations (GHC)
Rent Value Ranges (GHC per month in 2010)
Housing Financing
Financing for housing is a rarity indeed. Most Ghanaians dont borrow money for housing. Instead, they
borrow to do business, and then use profits to build their homes. Compared to other places in the world,
Ghanaians do not spend large percentages of household income on housing. (In the US, the standard is 30%
of income.) In the table below, Ghanaians spend on average, 12.4% of income on housing. Ghanaians do not
perceive housing as an investment, and thus, would not sell their homes unless under severe hardship.
Subsequently, formal sector financing does not exist for the majority of homeowners.
G h a n a | 49
Expenditure Components, 2014 Mean Annual per Capita and Estimate of Total Annual Expenditure
Private financial institutions became involved in the housing finance industry post 1970. Banks such as the
Ghana Commercial Bank, Standard Chartered Bank, and Barclays Bank offered limited mortgage financing to
borrowers who were well-off, influential, or in high-level government/bank employment only. The problem
with these banks is that they often borrowed short, but lent long; In combination with the hyperinflation
during that time, banks bled out all their equity. By 1990, Ghana had no long-term mortgage financing.
In 1990, the Home Finance Company Limited was established, aiming to provide housing finance through
long-term funds from initial capital and bonds. HFCs target groups were still relatively high income earners
with permanent jobs or the richest 20%. Simultaneously, there was a growing informal sector that financed
housing from savings and loans from relatives and expatriates (particularly in London). Basically, there are
two strands of housing financing. One from the government, both directly and indirectly, and the informal
sector. Banks are inherently risk averse, so they are not particularly relevant except for least risky clients (rich
and permanently well-paid).
Credit in General
Though available, only 25% in Ghana use credit. Most of the borrowing is between relatives, friends, and
neighbors. Banks are only used by a minority of urban households (20-25% male headed and 14% female
headed). In regards to outstanding loans, only a small proportion is used for housing (17.5% in Greater Accra
metropolitan area and 10.7% in other urban areas). It is important to note renters also need financing in
Ghana. Beginning in the 1980s, landlords charge two- to three- year rent advances.
Institutional, Legal and Regulatory Frameworks Governing Housing Finance
Bank of Ghana licenses, regulates, supervises all commercial banks and non-bank financial
institutions
Barclays
26 universal banks, 135 rural banks
Non-bank financial institutions: 19 financial houses, 18 savings and loans companies, seven leasing
companies, one discount house, and one mortgage finance company
Credit unions
Network of 150 Microfinance institutions under Ghana Microfinance Institutions Network (GHAMFIN)
Informal lenders
Capital market Ghana Stock Exchange
50 | G h a n a
Challenges with Housing Finance

High interest rates
Weak property titles
Difficulty if not impossibility of foreclosure in customary land administration. Land is not accepted as
collateral.
Weak institutional arrangements and coordination.
Land dispute resolution is inadequate.
Poor land management by the government (referring to government-owned land).
High interest rate spreads. (Between interest paid on deposits, mortgages, and loans etc.)
The lack of bank participation has been a major stumbling block to housing development.
Though Ghana faces challenges for the majority of the people, it is safe to conclude that the formal sector is
doing well. They are well staffed and well-supplied for their current level of operations. The main issue for the
majority arises from traditional land ownership and its clash with modern banking practices. Traditional
ownership or the customary system does not allow for bankable land (since foreclosure rarely happens, so
land cannot be used as collateral).
Financing Privately Supplied Housing

Self-Financing
As aforementioned, the bulk of housing is built by individual households. Personal savings and loans from
relatives are the major sources of financing. When referring to own savings, this includes more than just
individual savings. It includes remittances, which is the 3rd largest foreign exchange earner. Total remittances
into Ghana in 2010 was US$135,852,160 and US$119,296,000 in 2013. (World Bank Data) Another manner of
own savings is slowly accumulating construction materials over time.
Mortgages
The share of mortgage loans in total bank loans is marginal. Only 18% of developers use mortgage financing.
The total value of outstanding mortgage loans at the end of 2010 was $200 million. Interests range from 25
to 37% per year if formed in GHC, if in US dollars, 10 to 14% per year. Though not commonly used, there has
been an increase in mortgage loans. For example, HFC mortgage loans in 2009 were 51.85 million GHC, 2010:
57.55 million GHC, and in 2011: 70.76 million GHC.
Number of recorded mortgage transactions (2001 to 2009)
(Source: UN Housing Report)
G h a n a | 51
The following list contains several common types of mortgages that need registered title to land to qualify:
Home Purchase Mortgages: maximum of US$120,000 for 20 years, 20% down, residents pay
processing fee of 1.5% of proposed loan, non-residents pay $250 + 1% facility fee
Home Completion Mortgages: maximum of $120,000 for HFC Bank, $150,000 for Ghana Home Loans
Company, loans dont exceed 50% of total cost of construction of property, max term is 15 years for
both cedi and foreign currency loans, applicants required to submit development permit, building
permit, approved building plans
Home Improvement Mortgages: up to 15 years for both cedi and foreign currency loans
Home Equity Mortgages: helps those who have already invested in residential properties, maximum
loan term is 15 years for both cedi and US $ loans, loan cannot exceed 80% of forced sale value of
property
Buy, Build, and Own a Home mortgages: $50,000, designed for low income applicants, incremental
purchase, buying the land etc. over time, There are 2 components: buy land portion and build and
own portion, 10% cost of land for deposit (10% of $15,000), build and own component is $35,000 or
cedi equivalent, max of 10 years/portion, total of 20 years, property must have development and
building permits
First Time Buyer Mortgage: self-employed and employed/salaried workers, minimum of $10,000,
maximum of 3xs annual salary, maximum loan to value ratio = 75% for residents and 70% for nonresidents, loan period is between 7-15 years, must have title
Equity Release/Home Improvement Mortgage: salaried/employed workers who can provide 3 years
satisfactory salary history, minimum is $10000, maximum of 3xs annual salary, maximum term
15years
Rents as Housing Finance
Though renting is predominant in urban Ghana, people dont use rent income as a way to help pay off homes.
(They could use it to increase income or as a financing strategy.) Instead, rent income is typically only used to
contribute to maintenance costs. Rent advances are used to add rooms or increase the longevity of the house.
Another interesting phenomenon is that renters will build a room onto a landlords house in return for the
use of that room for a set period of time.
Government Subsidies and Micro-financing
The government provides subsidies and certain benefits to GREDA (Ghana Real Estate Developers
Association), a group of real estate investors, to raise formal private real estate investment.
Real estate investors are allowed:
Tax moratorium of 5 years.
Exemption from payment of import duties on materials, equipment, and other supplies
Exemption from rent payment and property rates erected on site for residential development project
Allowed to transfer (switch to a different denomination) to any currency dividends/net profit from
investment such as:
o Payment in respect of loan servicing where foreign loan was obtained
o Fees/charges from any technology transfer agreement registered
o Proceeds in event of sale/liquidation or any interest from investment
Micro-financing
Micro-financing in its various forms is also very common in urban Ghana. For example: savings groups called
operate locally among people who know and trust each other. Members pay in a set amount each day, and
52 | G h a n a
at the end of each month, one individual receives the entire months savings. Who receives the money could
be decided by lot, rotation, or need.
For most formal and semi-formal micro-financing loans, interest rates range from 36 to 48%. Habitat for
Humanity, considered semi-formal, offers small scale housing loans in collaboration with Sinapi Aba Trust
(financial NGO). They offer two types of loans: HI-5 and Home Improvement Loans. The former refers to five
purposes for the loan: buy a plot of land, build a structure, buy fittings/fixtures, make finishing touches, and
connect utilities. The home improvement loan is used for payment of rent in advance, completion of private
building project, renovation, and purchase of mortgage or land. Certain stipulations come with these loans
(range from GHC 500- 20000). Terms are three to 36 months, and one must exhibit continuous employment
for at least 12 months.
There are three different types of micro-financing suppliers:
1. Formal suppliers: rural and community banks, savings/loans companies, commercial banks
2. Semi-formal suppliers: credit unions, financial non-government organizations, cooperatives
3. Informal suppliers: susu collectors (example: HFC Boafo Microfinance Services Ltd.), clubs, rotating
and accumulating savings and credit associations such as Rotating Savings and Credit Associations
G h a n a | 53
URBAN LAND SUPPLY
There are two types of land administration: Formal and Customary. Both are legal.
There are two systems of land registration. Deeds and Title registration.
There are five types of land holding in Ghana, these include:
o
o
o
o
o
54 | G h a n a
Allodial Interest.: held by stools, skins, tendamba, sub-stools, clans, families, depending on the
customary law prevailing in the area. Allodial is not subject to rights of any lord of superior,
outright ownership, does not impose upon its owner the performance of feudal duties.
Customary Freehold: members of land owning community are entitled to rights of usufruct
under the regional customary law
Common Law Freehold: freehold grant by allodial title owner through outright sale or gift
Leasehold Interest: includes subleases, granted to a person to occupy and use land for a
specific period, subject to certain agreements/stipulations and payment of rent
Customary Tenancies: contractual arrangements to occupy land for a period in exchange for
portion of produce or rent
Customary Land Administration (80% of Ghanas landmass)

This type of land administration comprises of stools (tendamba), skins, clans, family, and individual
ownership. In other words, the chiefs, clan, and or family heads are custodians of the land. They dont actually
own the land. All community, clan, or family members are entitled to the land and its benefits. To Ghanaians,
land is sacred, it is to be used in the interests of future generations; it is considered to be under the care of
current generations.
The right to allocate land in Ghana belongs to the chieftains. Even so, the kin groups have the allodial (free
from tenurial rights of the chieftain) right. In other words, the chieftain is a custodian, in a sense, for these kin
groups, who have rights to the land.
The most powerful chieftaincy is the Golden Stool of Asante centered on Kumasi. At the local level, these
chieftains allocate land leases to members of the stool (according to their right to the land) or to strangers in
exchange for drink money or biri nsa in Twi. Drink money tends to represent market value nowadays. Chiefs
and chieftaincies can become exceedingly complicated in Ghana, as every stool, skin, clan, and family, based
on region, may have their own idiosyncratic system. For example in Accra, the owning bodies are: chiefs
(Mantsemei), fetish priests (wulomei), quarter heads akutseiatsemei), and family heads. The individuals
occupying each position often take liberties in defining what their roles are, making overlap quite common.
The land allocation process does follow a general pattern from planning to final grant of land.
1. Obtain information on land availability
2. Negotiate land transaction
3. Plot adjudication and demarcation
4. Provide evidence of land rights transfer
The decision to bring customary land to market lies with sub-chiefs, division chiefs, and paramount chiefs of
land owning communities. The sub-chief will approach the divisional chief to zone village farmlands for
residential and commercial use. The divisional chief then goes to the TCPD (Town and Country Planning
Department) to concoct a layout plan. To finance the layout preparation, the sub-chief will provide 1 of 10
plots to TCPD as a fee. The other plots of land may be allocated to the chief, the divisional chief etc., and the
rest is allocated according to the discretion of the sub-chief.
Essentially, the village chief or sub-chief behaves as if the land is his personal property. He may decide to
allocate the plots to various stakeholders, such as individuals or private developers.
After the drink money is paid, allocation letters are issued to allotees. The letters include plot numbers, block,
area, and sometimes stipulations regarding when development must take place (often between 2-5 years).
The individual purchasers must then approach the Lands Commission with the allocation letters to prepare
lease documents, who then grant residents 99-year leases and foreigners 50-year leases. No additional
payment is required of the individuals after drink money is paid except annual ground rents (approximately
$US 20 per plot). They are free to do as they please with the land after allocation and development. The chiefs
do not interfere. The community also recognizes the rights of the individual household that was given the
land. The head of the household can then sell or pass down the land upon death. (Any community land not
allocated by the chiefs is still community property.)
People who have acquired plots through the customary method are secure and will not be evicted by chiefs,
clan, or family heads of the land. Even though the land is essentially theirs, this land is not considered collateral
for any bank loans unless registered. In other words, the customary title holder does not have access to
mortgage financing.
G h a n a | 55
Originally, the drink money was a tribute paid to pacify or inform gods when land was being transferred to a
stranger. Nowadays, it functions as market price. Areas close to major roads in urban areas have the highest
drink money.
Drink Money in Various Cities for peri-urban 100 feet x 100 feet plots (30m x 30m), 2010
(UN Housing Report)
Formal Land Administration (20% of Ghanas landmass)

This comprises of public land: state and vested land. State land, which accounts for 18% of the land, is acquired
by the government for general public interest. Vested land (meaning the government manages the land for
owners in a trust), is limited in supply, accounting for 2% of Ghanas landmass. Vested land is sold at very high
prices, barring low income populations from access. (In Accra, formal land supply is less than 0.1% of Ghanas
total land area.)
Formal land planning is regulated by National Development Planning Commission while the Town and Country
Planning Department formulates goals and standards for land development.
Land Registration
Land registration processes and procedures could apply to both formal and customary land. There are two
types: titles and deeds. Title registration only applies to Accra and parts of Kumasi. Deeds apply to the rest of
Ghana. This process is usually only relevant when land changes hands. The distinction between title and deeds
registration is that titles add 8 steps to the deeds process.
Summary of Deeds Registration Process
56 | G h a n a
Transaction Fees Associated with Land Documentation Handled by Public & Vested Lands Management Division
G h a n a | 57
Plot Sizes
Current building regulations require a minimum of 450 square meters with a road frontage of at least 15
meters. The average residential plot size is 30m x 30m (900 square meters) for state and vested land.
In customary areas, plot sizes are 30m x 24m, 30m x 23m, 30m x 27m, 30m x 37m. Around the periphery of
Accra, the sizes are: 23m x 33m, 27m x33m, 40m x 33m.
Cost
Prices of Land per Acre in Accra by Location
Proportion of Land Cost to Housing Unit Cost
Challenges
There are difficulties with the registration system including a) multiple registration of deeds on same piece of
land (because the land itself is not registered), and b) inaccurate site plans, lack of system to detect multiple
deed registration, absence of maps and plans to ID parcels and boundaries
The government tried to make title registration mandatory, but progress remains slow as only Accra and
Kumasi require it. Even so, 60% of people do not register, citing that it is too difficult and unnecessary.
Registration is slow; it often takes 7 months or longer to register. Additionally, though annual ground rent
58 | G h a n a
should be paid annually in advance on registered plots, only 25% paid it. The lessee is required to begin work
within 12 months and complete the project in 3 years, but this rarely ever happens.
Land disputes and litigation are a fact of life for many, especially in the Accra region. Unscrupulous owning
family members may allocate land to multiple parties, giving rise to dispute. Additionally, since land is owned
by multiple members, many individuals may allocate land, also giving rise to dispute. The complexity of title
transfer and processing procedures, joint inheritance practices (the need to negotiate with multiple parties),
multiple allocations by chiefs (fraud), and boundary disputes are all part of the cause for the backlog of land
litigation cases in Ghana. In 2009, the number of cases outstanding was 11,920, an increase of 14% from the
previous year, but the amount of total backlog cleared rose 59% from 2008. The prevalence of land litigation
can be a deterrent to speculation and development.
Dual land markets can also pose a problem in so far that the two uses different instruments. The state uses
formal sector instruments which are not shared by the customary land market.
Common challenges include:
Plural legal environment for land administration can create conflict between customary and state
statutes
General confusion in land allocations high rates of encroachments onto neighbor land, multiple sales
of residential parcels, unapproved and haphazard development, all of which leads to litigation
Absence of national database on land ownerships
Hierarchies of rights and interests which are not defined and recorded
Difficulty in ascertaining owners of land
Difficult access for industrial, commercial, and residential development because of conflicting claims
to ownerships
Interestingly enough, despite the net high degree of tenure insecurity, there is very little insecurity in
households occupying housing in all sectors. In fact, 80% of households felt secure or very secure against
eviction.
Perceived Security of Tenure in the Lowest Standard Neighborhoods in 2010
Land Needed to Accommodate New Housing

Past government policy advocated one dwelling per household (irrespective of income or affordability) and
an average plot size of 25m x 30m. If new dwellings were to be provided for each of the two million or so
urban households needing housing by 2020, 234,000 Ha would been needed. The average football field is 0.7
Ha, so this would be approximately 344,000 football fields. At 2 ppr, 1,913,000 dwellings would be needed
over 10 years. At a single dwelling per plot, 220,000 Ha of land would be needed. If compounds (10 room
G h a n a | 59
averages) instead of single dwellings were built on the same sized plots instead, only 574,000 houses covering
67,000 Ha would be required. Multi-occupation in compounds with shared services require far less land as
opposed to single dwellings.
Amount of Land Needed at Current Plot Sizes with Bungalows or Compounds (thousands)
Analysis
Though Ghana has a complex and occasionally obscure land administration system, even the poorest
Ghanaians have a right to own land where they originate, virtually for free. The customary system allows land
ownership where the market would deny it. Prices are much cheaper in the customary system than in formal
land sales. In the former, all that is needed is the drink money, instead of a full purchase price.
The way in which housing is built and constructed individually, plot by plot, lends to the result that expansion
occurs incrementally, as opposed to in large blocks. However, the increasing new development will require
surveyed and allocated land to keep pace, along with administrative staff to cope with it.
Sources: Housing National Analytical Report, UN Housing Sector Report
60 | G h a n a
CONSTRUCTION INDUSTRY AND BUILDING

MATERIALS
A significant engine of economic growth, the construction industry in Ghana is best parsed into two segments:
formal and informal. The formal segment is one that operates for high income consumers such as expatriates
or foreigners in Ghana and is somewhat subsidized and encouraged by the government. This industry uses a
mix of imported and local materials and builds to international standards. Though regulated by the
government, this sector receives many tax breaks, especially GREDA members. Then there is the informal
sector, which is expansive.
Thousands of small scale contractors build single dwellings for households using small scale and local
components. This sector receives no government assistance, is unregulated, and probably pays no tax.
Though this sector is unregulated, Ghana is special in the sense that it doesnt have many squatters or
homeless at all. This informal building sector still operates on legitimately occupied land (customary). In other
Sub Saharan African countries, low-income building in urban areas often involves doing so in squatter settles.
This almost never occurs in Ghana.
G h a n a | 61
Dwellings are usually assembled onsite (unlike other manufacturing industries) and built at the instigation of
an individual/household, who finds and buys the land, negotiates designs, permissions, builders and
infrastructure, and occupies it. It is not uncommon to literally build ones own house (also called sweat equity).
This process is inefficient, but does involve large numbers of people in the housing supply at any given time.
It also allows for a large scope of varied workers both skilled and unskilled. Since most workers are lowwage, money from construction tends to be spent close to the site. For every dollar in wages, another dollar
is earned as that money circulates locally, making the income multiplier around 2. For every job created
directly, at least one more is generated in industries: materials, transportation, sustenance and parts in the
construction process. Economic benefits are greater if housing is being built, as opposed to other construction
engineer projects. Economic benefits are also greater if the housing is simple and low cost rather than
expensive with high finishes. The housing sector has no way of predicting what these specific forward
linkages/effects will be.
The need for housing is concentrated in the cost range of $10000 to $18000 (GHC14000 25000) with a
superstructure cost of $6000 to $10800 (GHC 9000 15100), or $2200-4000 per room (GHC 3300-5600).
Construction
There are numerous challenges in the construction industry, and oftentimes local construction companies
have difficulty operating effectively against foreign competition due to:
Obsolete construction equipment being used by local companies foreign companies have modern
equipment
Heavy transaction costs delays in processing documents at various ministries
Encumbrances in the issuing of building permits, title, and deed transfers of land, and lack of these
documents making real property unsuitable for collateral bank loans
Key Players in the Construction Sector:
Prospective home owners who collect land, materials, contractors, services, etc. to build a complete
dwelling at own instigation
Contractors: small scale mason teams who gather necessary tradesmen to complete a project
Companies that build houses for the state, corporate organizations, and individuals (State Housing
Company, Social Security and National Insurance Trust, and Tema Development Corporation which
are in the public sector. Contractors within GREDA and Habitat for Humanity are examples of private
sector non-government.)
Metropolitan, Municipal, and District Assemblies implement building regulations (issues building
permits and ensure building construction is according to local government level code)
Town and Country Planning Department is in charge of overall planning activities
Survey Department provides cadastral base, Lands Department registers land
Technical and consulting services to government construction projects. Architectural and Engineering
Services Limited, Public Works Department, some private architectural firms they might supervise
construction of public buildings
Institutes that provide technical advice and influence policies in the construction industry. (Ghana
Institute of Architects, Ghana Institution of Engineers, Ghana Institute of Surveyors, Ghana Institute of
Planners, Buildings and Roads Research Institute in Kumasi, professional associations for
draftsmen/builders/contractors)
62 | G h a n a
Building Control
Building activities are subject to formal controls, but there are not enough district planning authorities or staff
ascertain whether construction is proceeding according to permit design. Corrupt planning officers worsen
the situation by compromising inspections and taking bribes to allow construction to go on without following
building permits.
This occurs even more frequently in the informal sector. In fact, most draftsmen admit that they rarely consult
building regulations in their training and work. Building regulations are considered irrelevant in much of the
housing stock. When extensions or some sort of structural alterations are needed, no permit is sought, and
no building plans drawn up. The owner and the contractor simply verbally agree upon room size and type. It
is unclear whether they are ignorant or willfully ignorant. After all, most household titles and rights are not
documented on paper under the customary system, (this accounts for the majority of Ghana). On the other
hand, for the formal developers, building permits are sought after because land registration documents are
needed to sell or rent out buildings after construction is complete.
Suppliers, Contractors, and Service Providers
Ghana Real Estate Developers Association (GREDA) This group of developers is worth noting as they
are fairly significant in the formal sector.
o Bank of Ghana estimates 10,954 since 1988, Asiedu and Arku estimate 50,000 dwellings built.
o Largest member of GREDA Regimanuel Gray Texas based joint venture built over 8,000
dwellings in Accra by 1997, completed almost half of GREDA housing in 6 years 2000-2006
2,107 dwellings
o Market for GREDA: upper income group, or the middle class now (employed by FDIs in Ghana)
o These dwellings tend to be sold in dollars to those who can take on mortgages
Suppliers and Manufacturers
o Most building materials on market have an imported component
o Clinker for manufacturing cement is imported
o Aluminum ingots and rolls are imported to manufacture roofing sheets locally
o Retailers base the pricing of their goods on manufacturers price, distance good was moved,
inflation, and shortages in the market (For example: cement is GHC 11.70 in Accra, but GHC
13.50 in Kumasi, GHC 15.00 in Tamale)
o If there are temporary shortages prices goes up, but its very rare to have shortages now
(only when factories are undergoing maintenance/repairs)
o Import duties some are very high, affect prices of imported goods
Labor
Construction labor (skilled and unskilled) is easy to obtain, often through recommendation or word of mouth.
Sometimes, the skilled labor will provide the unskilled. A typical work day runs from 7 am to 2 pm with a 30
minute short break.
Unskilled labor goes at a daily rate at GHC 8-15 (June 2010) depending on the level of work. For example, a
laborer working with materials like soil/building blocks will charge less while a laborer working with heavier
concrete mixes will charge more. Workers expect to be paid on a daily basis, at the close of work. In the
informal sector, (basically anything non-government related or individually instigated), prices are determined
more so on the perceived income of the client instead of the actual cost of the job. (So dress down.) Also, in
G h a n a | 63
this sector, the client must provide the supplies ahead of time, whereas in the formal sector, the contractor is
responsible for supplying materials to site.
Skilled Labor Charge Rates, Urban Ghana, June 2010
Construction Labor Training

Artisan training is provided two ways:
1. Through polytechnics, technical schools, and junior secondary schools
2. Through apprenticeship. The apprenticeship usually spans 3 years. A young man will go to a master
with a bottle of schnapps (type of alcohol) and sum of (GHC 200-400) to cover cost of training.
In the informal housing construction sector mason and team small scale contractors dominate. There is no
shortage of labor supply in this sector in regards to cement based materials. However, there is a shortage of
supply in labor skilled in working with new materials. Manufacturers and importers of new modern materials
tend to avoid using randomly chosen workforce; they try to keep things in house so to speak. In other words,
these companies prefer a specialized workforce to carry out construction and installation partially to keep
trade secrets and partially due to the fact that skilled labor is in low supply.
There is capacity to train skilled labor. Universities generate professionals, architects, and engineers. Technical
vocational centers such as Opportunities Industrialization Centers and National Vocational Training Institutes
train lower level technical staff. Other places like the Ghana Institute of Architects offer refresher courses for
people already in the informal housing construction sector.
Building Materials
Back in the 80s, building materials were hard to come by. Cement prices were government controlled, and
when it was obtained through official channels, the process was slow and subject to corruption payments. By
the 1990s, things were easier. There were still cement shortfalls, but other materials were easily obtained
through retail outlets in town. Now, materials are readily available.
For high and medium income consumers
Dwellings are made from: Cement sand blocks, in situ structural concrete (In situ concrete requires
liquid material to be poured on site, as opposed to precast concrete.), occasionally burnt bricks
External doors: mainly timber paneled
Internal doors: plywood flush doors
64 | G h a n a
Windows: glazed glass

Security doors and gates that are also decorative (due to increased crime rates): imported from China
or Italy
Roofing: Timber still used, but recently steel trusses are being fitted, modern colored metal roofing
sheets are also common (Asbestos and other traditional roofing materials are avoided.)
Floor finishes: PVC ceramic tiles (terrazzo, a wooden parquet, screed and granolithic finishes used
screed construction)
Bathrooms, toilets, and kitchens: walls finished with tiles
Ceiling finishes: plaster of Paris and plastic tongued/grooved panels, sometimes plywood
Low income builders:

Wall: sandcrete blocks
Windows: aluminum carriers with glass louvers
Doors: paneled or flush doors mass or locally produced and sold on open timber market
Roofing: asbestos sheets- locally made or imported from China
Wall finishes: emulsion painted
Bathrooms: tiles for lower half of wall
In neighborhoods with insecure tenure: houses are built with temporary materials like softwood
(wawa), plywood, and metal sheets
Cost of Selected Building Materials in Ghana
G h a n a | 65
Atakpame method walls

Made of roughly compacted laterite in layers 450 mm deep.
Common in existing walls in older parts of town, not so much used for new buildings
Cheap, durable, highly thermally-efficient
Not approved by building regulations for use in urban areas without special request
When protected by roof overhang and strong foundations it will last for generations but still
classified as temporary material
Laterite
70% of Ghanas land surface is covered by laterite, which is excellent for construction. The iron bearing
nodules, which are rough, hold on to each other when compacted. As time passes, the physical bond is
augmented by a chemical bond as long as it is well covered from rain falling against the wall and protected
from splash back from the ground. These well- protected laterite walls can last for generations. Even so, most
households and developers would not use it because they consider it unsightly and rural-ish. Currently,
laterite is mainly used as foundation filling for houses. Other uses include hydraform blocks which are molded
using a 90% laterite and 10% cement mix.
66 | G h a n a
Cement and pozzolana

Cement is manufactured in Ghana from imported clinker. Diamond and Dangore cement producers are the
main cement suppliers in the country. Ghacem has 2 production centers in Takori and Tema, which are
convenient for importing clinker, each with a production capacity of 1.2 million tons per year. There are 2
types of cement in use: 90% is known as super rapid cement, for house construction, 10% is the type used in
high rise buildings.
Clay deposits in Ghana have been shown to be rich in pozzolanic materials (silica and alumina) which react
with constituents of Portland Cement and can substitute for up to 40% of the cements volume. Pozzolana
cement is now produced locally to complement Portland cement (if used accordingly, would allow 40% savings
on countrys clinker import which amounts to $30 million plus a year). Pozzolana alone is not enough to
replace cement, it must be mixed with cement. Usually, 2 parts cement and 1 part pozzolana does the trick.
Sandcrete blocks
In 2000, 60% of all houses in urban Ghana were built in sandcrete blocks. This is still one of the dominant
building materials for walls. Sandcrete is cement, sand, and water molded into a block. It is mainly produced
by small scale entrepreneurs using labor intensive production methods. (The sand itself is often contaminated
with pieces of polythene, stones, and roots etc.) The standard is one part cement and six parts sand. It is
slightly more expensive than locally sourced earth based building materials. If bought from major
manufacturing companies like Bess Block, they cost three times more than those from small scale
manufacturers. Of course, the quality is better from the larger companies.
Improved earth blocks
Small proportions of cement or pozzolana can be added to earth and compressed to create building blocks
at low cost. Kwame Nkrumah University of Science and Technology has done research on this front. These
mixtures contain only 5- 10% cement (which can partially be replaced with local pozzolana), laterite, and water.
Despite the success of this product, it has not passed into general use.
Aluminum and asbestos sheeting
Corrugated aluminum and/or asbestos have replaced corrugated galvanized iron as the roof cladding material
of choice. Though asbestos compromises health, it has not been prohibited from use and is still processed
locally. Since the price of metal sheets have gone up, improved asbestos sheets have been imported from
China, which are cheaper than the corrugated aluminum sheets. Aluworks, Metalex, Rocksters, Glanderson,
and Rainbow are suppliers of different types of roofing sheets sold directly or through retailers. Aluworks Ltd.
is based in Tema and processes aluminum ingots from South Africa into finished products like aluminum
sheets etc. Rocksters Roofing Company has factories in Taifa, Weija and Tema, all in Greater Accra and imports
rolled sheets from USA, Australia, and Asia. Transportation of products is free within Accra and Tema.
Timber: Sourced locally, timber is used in almost all dwellings in urban centers.
Soft woods wawa (red wood) casing for columns and beam
Hardwoods avodire, mahogany, sapele, odum more expensive than wawa, used for roofing
members, door and window frames, ceiling noggins, doors
High income builders: use mahogany and odum
Low income builders: red wood and emire
Terrazzo
Cast on site
Shells or stone chippings in white cement
Being replaced by precast tiles from China
G h a n a | 67
Imported materials and components

Cost of importation inevitably increases the price and affects the total cost of construction. However some
imported materials, especially from China, are cheaper than locally made equivalents. Tiles ceramics,
plumbing, lighting fittings, door locks are usually imported. There is now arguably an over-reliance on
imported materials (iron rods, cement, tiles, paint etc.). In low income areas, the degree of dependence is
considerably lower than others.
Paints
Locally produced emulsion paint is cheaper, but most prefer imported acrylic paints. A 12 liter Coral Acrylic
paint costs GHC 80, the same amount of emulsion paint is GHC 30. 2
Traditional Building Materials
Quality of building materials is standardized and regulated under Ghana Standard Code of Practice. The
difficulty with traditional materials is that there are no standard tests for them. The planning officer can hardly
give approval in the absence of testing. If testing were done, burnt bricks and cement based materials, which
have very high compressive strength, would probably be used for comparison. In this scenario, the local
materials would not pass all the tests. To offer an example for comparison: in rural buildings sundried
bricks/blocks (traditional) instead of wattle and daub or the atakpame method are used. For longer durability,
exterior wall surfaces have been rendered with cement based material to serve as an impervious barrier. The
challenge arises when atakpame walls, swish, or adobe has an acidic base that reacts with the alkaline base
in cement. This prevents solid chemical bonding, and the wall plaster begins to peel. Aside from these issues,
traditional earth based materials face social barriers in urban areas, as they are seen as unacceptable.
Costs of Building
Three types of dwellings of different types
2
12 liters is about 3 gallons, US interior wall paint ranges $15-$30 per gallon, so 12 liters of US paint would be around $45, which translates to around
153GHC.
68 | G h a n a
There is a positive correlation between prices of building materials and distance from Accra and a negative
correlation between labor cost and distance from Accra. For example mason in Accra charges GHC 20/day
and laborer GHC15/day. In Tamale, a mason and laborer charge GHC 15/day and GHC 10/day.
Material and amount of housing in square meters
Approximate Construction Costs per Square Meter in Urban Ghana (2010, GHC)
Costs of Constructing Dwellings by Area in the Available Materials (2010) 3
All with screed floors + 40% for land and infrastructure

G h a n a | 69
Choice of materials affects amount of housing affordable to households. If built with the atakpame method
or with sandcrete, the household can afford three times as much space. Even at house cost to income ratio
of 3, the average renter household in Accra can afford an area equivalent to two rooms if built in sandcrete or
seven rooms if built with laterite. If laterite-based concepts such as the atakpame method were encouraged,
the average household could easily afford 4 rooms.
Square Meters of Housing Affordable at Housing Cost to Income ratio to Households (2010)
Job Creation
Essentially, the construction sector is split between the informal and the formal at 90/10. The number of
dwellings required per year estimates around 201,711 per year. The approximate number of work months
needed to build 201,711 per year approximates around 869,400 (using the 90/10 split between formal and
informal). Divide this number by 12, gives you 72,500 work years or jobs. If the formal sector were to increase
to 20% of all new housing, then approximately 1,154,000 work months or 96,000 jobs would be created.
Number of Work Months Employment and Jobs Created From Formal and Informal Building
70 | G h a n a
INFRASTRUCTURE
There are two distinct urban infrastructure areas in Ghana, the well-serviced and the un-serviced city;
wrapping around the urban area such as Accra and Kumasi. Particularly in newly developing areas, services
often lags behind the pace of development.
The customer of any utility company must bear full cost of connection. They must submit a new service
connection application to the Regional or District Office of the utility company including a copy of the site plan
for approval. The team from the utility company will visit and prepare estimates for installation. Only after full
payment is work carried out. 100% payment upfront is a high threshold. For most low income households,
connection fees are too high. The UN Housing Report estimates the cost to be around 41% of average income.
Yet, according to Water.org and The Stone Family Foundation, sanitation connections average: $US700 to
$US800 (2011 numbers). If GDP per capita was around $1400 in 2011, the proportion was nearly 50% to
connect to utility mains.
Water
Only 8 of 170 of Ghanas district capitals have comprehensive piped water networks. Ghana Water Company
Limited (state owned) is responsible for the treatment and supply of water as well as drainage and sanitation
G h a n a | 71
in urban areas. According to the Ministry of Local Government and Rural Development, access to water means
access to safe water within 200 meters and 37 liters per person per day at an affordable price which is 5%
or less of household income. Very few households have exclusive use of water service.
GWCL manages a countrywide system that serves an urban population of 8.4 million. There are some
expansion projects in progress such as Accras Kpong Water Supply Expansion Project (costs $273 million). In
Tamale, only 44% of residents were covered by GWCL in 2002 and those supplies were rationed water flows
just once or twice a week for a few hours.
In general, according to 2008 numbers, coverage reported by the Community Water and Sanitation Agency
for rural areas was 57%. GWCL reported 58% as the national coverage average. There are targets to achieve
76% rural water coverage and 80% urban water coverage by 2015, but it is uncertain whether this has been
achieved.
In low income residential areas only 20% households have access to piped water. Urban poor must rely on
public standpipes, neighbors taps, or water vendors paying 10 to 20 times more than if they were connected
to a network. In Accra, Kumasi and Tamale an 18 liter bucket costs GHC 0.20.
As a result, people cant store enough water and resort to unsafe sources dams, dugouts etc., which leads
to guinea worm. However, according to the World Health Organization, after a long 22-year nationwide battle,
Ghana has officially eliminated the guinea worm disease in 2015.
Source: JMP: Joint Monitoring Program by WHO and UNICEF
Main Household Water Sources for General Use
Source: Ghana Statistical Service, GLSS 6
72 | G h a n a
Problems facing GWCL:

Increased urbanization puts tremendous pressure on existing utilities
Previously low tariffs affected GWCLs ability to renew facilities and carry out water supply expansion
Management challenges from low revenue collection
Inability to self-finance capital expenditure
Erratic power supply
Nonpayment of bills
Illegal connections
General poor performance of water reservoirs which use inline booster pumps
In Accra, only 25% of residents enjoy 24 hour supply of potable water and only 30% have average of 12 hours
service every day for 5 days/week. Those people can consider themselves lucky, because 35% have 2 days of
service each week and 10% are without access to piped water supplies and depend on costly private vendors
and tankers.
Cost of Water
Based on increasing block tariff system cost per gallon rises as consumption increases
GHC 0.8 per liter for first 20,000 liters and GHC 1.2 per liter (50% higher) + 1% levy on total amount for
firefighting and 2% of total for rural water development
Lower income households often live in a compound style and only have one meter, so they get
charged at higher rates than single dwelling households.
Cost of Water Supply By Registered Water Tankers (GHC)
General water issues

Unscrupulous tanker drivers draw untreated surface water from streams and treat it with alum (to
settle sediments) before serving it compromising health.
Connection lines from the city usually come in the form of 20, 25, or 32 mm diameter PVC pipes
installed in ad hoc ways, some illegally. This only happens because pipes are laid on or close to surface
easily. This ease of access also makes them incredibly easy to damage.
The sea is a crucial asset. Sea water is used for bathing and a few cups of fresh water for rinsing.
However, according to a random household water quality test conducted at Old and New Ashaley
Botwe and Accra, 45% and 55% respectively used contaminated water.
In Tamale, Wa and Bolgatanga, some residents in low income areas still share main source of drinking
water with their livestock in the dry season (ponds).
G h a n a | 73
Economic effect
Lack of sufficient water supply causes many problems. It might be worthy to note that women bear the burden
of carrying water for up to 5 hours a day as they are primarily responsible for household water supply and
sanitation. This in turn affects womens education and employment. It is estimated that fetching water takes
700 hours per person per year in Ghana, which leaves girls out of school and limits economic productivity of
women. The monetary loss is estimated at $1100 per person using WHO figures.
Sanitation
Sanitation is administered by the local government, but sewerage systems are extremely rare in urban Ghana
because there is not enough water to service them. Most households have cesspits that are emptied by
suction tankers. In informal areas, areas not serviced by household sewerage systems, public bucket latrines
and pour flush toilets go to septic tanks.
Since it is taboo to handle sewage in Ghana, the common tropical sewage treatment sun drying of sewage
in settling ponds to generate fertilizer - is not used. In Accra, sewage treatment works in Accra have been in
and out of order. All sewage and sludge goes untreated into the sea.
Reliance on public toilet facilities is unusual in Sub-Saharan Africa, yet common in Ghana. Public planning
standards aim that all residences be equipped with toilets and that public toilets are available only for
occasional resort rather than daily routine. The standard is one hole per 50 people for a neighborhood
(minimum 5000 people per neighborhood). Currently, reliance on public toilets account for 35.7% of
households.
According to 2010 numbers from Ghana Statistical Surveys 2013 report, the most commonly reported
facilities were public toilet, pit latrine, water closet, and Kumasi Ventilated Improved Pit Latrine (KVIP an
improved version of the pit latrine): 34.6%, 19.0%, 15.4%, and 10.5%, respectively. Though some housing units
continued to use mobile pan latrines, this method has been declared illegal by law. Even so, approximately
40,678 dwelling units continue to use this method. Unfortunately, 19.3% of dwelling units have no toilet
facilities, and the proporiton of units using the bush/beach/open fields method has remained largely
unchanged from 2000 (20%) to 2010 (19.3%). (Even more recently, in 2013, those using bush/beach/open fields
remains unchanged, at 18.8%.)
74 | G h a n a
Bathing and Toilet Facilities by Household: 2000 and 2010
Source: Ghana Statistical Services: 2013 National Analytical Report

Households by Type of Utility Used and Locality (%)
Source: Ghana Statistical Service 2014 report GLSS 6, based on 2012 to 2013 numbers
Ghana Water Company Limited controls the few sewage systems in Ghana and must be consulted before
excavation or building work can go near a public sewer or any private connection is made. If customers do
not pay for services provided within 14 days of receipt of bill, they might be disconnected. However, more
often than not, these directives have been disregarded with impunity. The GWCL staff is complicit in aiding
the customers. This does prove to be a difficulty for the company and undoubtedly contributes to its very
poor performance.
G h a n a | 75
Waste Disposal
There are two systems for solid waste, run by both public and private sectors.
1. House to house system in high income areas with good infrastructure and accessibility, has user fees
2. Fee free communal collection system low income unplanned and poorly accessible areas, services
remain poor and erratic
Ghana in general does not have significant public solid waste (rubbish) collection system. Only 18.2% of
households have their waste disposal is collected. Public dumps account for 52.4% of all household waste
disposal. 29.4% of households either burn their solid wastes or dump them indiscriminately.
In regards to liquid waste: Septic tanks are rare, accounting for 1.6% of all households in Ghana. It is unclear
what discharged into drains refers to since the GLSS6 Main Report states this as open spaces in the written
portion. It would seem that nearly 100% of all liquid waste is indiscriminately discarded in open areas or open
spaces.
Households by Source of Basic Utilities and Locality
Source: Ghana Statistical Service, GLSS 6 Main Report
Power Supply
In 2006 and 2007 Ghana explored possibility of including independent power producers. For the most part:
electricity is regulated by Energy Commission (technical regulator) and Public Utilities Regulatory Commission
(economic regulator). The cost of service connection is paid by consumers.
Electricity
This service is more satisfactory than other services. Most houses have access to it, in particularly for lighting,
and a few use it for cooking. Ghana currently generates 2125 megawatts but needs 500 megawatts more.
Power shortages are a problem. For example, in 2007, it led to an economic loss of 2% of GDP. An increasing
76 | G h a n a
reliance on oil-based generation will probably raise the average cost of power generation from $0.05 per
kilowatt hour to over $0.20 per kilowatt hour. To power companies, this is not an insignificant financial loss.
Challenges for Electricity Company of Ghana 4
Inadequate financing, rights of way challenges, difficulties in land acquisition for network extension
and installations.
Commercial losses from: result of power theft, delayed billing of new customers, errors in billing, malfunctioning meters, inadequate accounting for consumption of streetlights
Theft and malfunctioning equipment account for approximately a loss of 21% of generated power
Unplanned cuts in power are usually result of generation shortfalls, faulty and obsolete network
equipment, and network overloads especially at peak times
Between 25 to 30 private companies have been given licenses to produce power, but this is not being
translated into power production. Only two private plants are in service on a regular basis: Asogli and
CENIT Energy, which can provide 200 megawatts and 126 megawatts, respectively.
Roads and Access
Source: Africa Infrastructure Country Diagnostic
The Department of Urban Roads within Ministry of Roads and Highways is responsible for management of
roads. A lack of adequate financing and capacity is a problem as well as the lack of coordination of policy
formulation amongst all the ministries involved. Many roads have fallen into disrepair due to lack of
maintenance funds, and not enough new roads are being built. This is particularly a problem in low income
areas, which continue to remain grossly disadvantaged.
Funding for maintenance and rehabilitation of urban roads comes from Ghana Road Fund (GRF), the
consolidated fund (Government of Ghana), and donor funding via Ghanas development partners. There are
29 toll booths across Ghana generate GHC 2.9 million monthly revenue into the GRF.
4
http://www.ghanaweb.com/GhanaHomePage/NewsArchive/How-MCC-Compact-benefits-power-consumers-320183 UN Housing Sector Report
G h a n a | 77
According to the Ghana Investment Promotion Center, Ghana is made up of a total of 63,122 km of roads as
of the end of 2006. This consisted of 12,786 km of trunk roads, 40,671 km of feeder roads, and 9,764 km of
urban roads. The road network increase to 13,367 km trunk roads, 42,100 km of feeder roads, and 12,600 km
of urban roads, totaling 68,607 km of roads.
Characteristics and Types of Urban Roads in Accra, Kumasi, and Tamale
General Challenges
According to the World Bank, addressing Ghanas infrastructure issues will require $2.2 billion per year over
the next decade split between investment, operations, and maintenance. From 2000 to 2010, Ghana only
spent half of that. It is estimated that Ghana loses $1 billion per year in underpricing of utilities waste, power,
water. (The economic, health, and coping costs consumers and the government pay for poor service
surpasses the cost of providing consistent, safe, and adequate service.) There is much need for service delivery
improvement. Depending on how housing is configured, Ghana would need around 200,000 new service
connections every year to sufficiently meet demand. This is assuming self- contained dwellings, not
compounds.
As it stands, The World Banks Ghana portfolio comprises of 26 projects, totaling $1.626 billion. The IMF
recently approved a three year arrangement of about $918 million in support of economic reform so as to
foster higher growth and job creation. Public debt has risen at an unsustainable rate. This program aims to
restore stability and assist the governments efforts to create more space for social spending and
infrastructure investment.
78 | G h a n a
GREATER ACCRA
Greater Accra has a total surface area of 3,245 square kilometers or 1.4% of total land mass in Ghana. At
4,010,054 people in 2010, Accra is the second most populated region, after the Ashanti region (4,780,380), and
accounts for 15.4% of Ghanas total population. There are 5 districts. Accra Metropolitan Area, Tema Municipal
Area, Ga East District, Ga West District, Dangme West District, and Dangme East District. Each district is
administered by a Chief Executive.
Housing Prices
Average housing price was GHC 315,000 or US$ 86957 in mid-2013, which was 12% higher than the rest of
Ghana. Resource and manufacturing boom has led many European and American passport holders of African
descent to Kotoka International Airport. They tend to want to settle in Accra.
The most expensive areas, average prices (2013)
Airport Residential Area: GHC 950,000 (US$262,250).
East Legon GHC 800,000 (US$220,842)
Spintex GHC 600,000 (US$165,631).
G h a n a | 79
The least expensive areas, average prices in (2013)

Madina: GHC 200,000 (US$55,211)
Kwabenya: GHC 245,000 (US$67,633)
Abokobi: GHC 210,000 (US$57,971)
In the rest of Ghana, house prices remained cheap, at an average of GHS280,000 (US$77,295) Kumasi, the
average price of a house stood at GHS220,000 (US$60,732) in mid-2013. Sekondi-Takoradi, the average house
price was GHS180,000 (US$49,690). Cape Coast has the least expensive houses in Ghana, at an average of
GHC 120,000 (US$33,126)
Housing in Accra is mostly made of cement block or concrete, accounting for 74.2% of housing. Tema has the
least proportion of mud houses (2.5%).
Housing Density
Average household size is 4.6 persons. Average room density of 2 persons per room. Dangme West and
Dangme East have a density of 1.6 ppr. All districts, except AMA actually have a lower density than 2, indicating
that overcrowding is problematic for AMA, more so than other areas. (The sleeping room average in AMA is
2.8.)
Population Characteristics
Major Ethnic Groups
Akan (39.8%)
Ga-Dangme (29.7%)
Ewe (18%)
The Gas (a sub ethnic group) 18.9%
Religious Groups
Christians (83.0%)
Muslims (10.2%),
No religion (4.6%),
Traditional religion (1.4%)
Occupation
Sales workers and general workers are the most common occupations in AMA, Tema, Ga West, and Ga East.
In these areas, the main industry is wholesale and retail trade. Agriculture is the most significant occupation
in Dangme West and Dangme East. As a whole, 42% of Accra was engaged in sales and service while 24.7% in
production, transport, and equipment operators. 10.8% of workers in Accra are professional and technical
workers.
80 | G h a n a
Technology Use
Greater Accra has the highest percentage of mobile phone usage in Ghana. Accra also has the highest number
of laptop and desktop ownership, indicating that it is the most technologically advanced part of the country
and ripe for BPO.
Climate/Land
Temperatures range between 20C and 30C or (68F to 86F) and annual rainfall ranges from 635 mm around
the coast to 1,140 mm (25 to 45 inches) in the north. Accra is not particularly well suited for farming nor is it
endowed with much mineral resources, possessing only granite, clay and salt.
The Volta and Densu are the main rivers, and small seasonal streams flow from the Akwapim Ridge into the
sea. Accra is bordered on the south by the Gulf of Guinea, and thus is susceptible to pollution from lagoons
in AMA, Tema, and Dangme East.
Electricity
In Dangme West (36.8%) and AMA (61.1%), households still us charcoal as cooking fuel. In Dangme West and
Dangme East, more than 50% of households use wood as cooking fuel. This can be difficult to sustain as
deforestation occurs with little reforestation.
Sanitation
The Ridge, Cantonments, and educational institutions Achimota and University of Ghana Legon have proper
underground sewerage systems. Tema was planned with a fully integrated sewerage system, but has since
outgrown its capacity. The rest of the region has no properly interconnected sewerage system.
Additional Sources:
http://allafrica.com/stories/201309021594.html http://www.globalpropertyguide.com/Africa/Ghana
http://www.ghana.gov.gh/index.php/about-ghana/regions/greater-accra
GSS National Analytical Report
G h a n a | 81
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Printed in the United States of America
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Market

Market Analysis Report | GHANA | 2016

Economics GDP and Structure

Economics Information and

OPportunities and Challenges to

Urban Land Supply

Construction Industry and Building

Market Analysis Report | GHANA | 2016

Market Analysis Report | GHANA | 2016

(Source: IMF Staff Report Ghana: Poverty Reduction Strategy Paper)

Market Analysis Report | GHANA | 2016

Democracy Index (Scale of 0-10)

Significant Events of note to Ghanaian diaspora:

Diplomatic representation in the US:

Diplomatic representation from the US:

Market Analysis Report | GHANA | 2016

ECONOMICS GDP AND STRUCTURE

Annual GDP Growth Rates and Forecast

Market Analysis Report | GHANA | 2016

However, the IMF staff team in Ghana has been working

Gross National Saving:

GDP composition by end use:

(Source: World Bank Data)

investment in inventories: 0.7%

Market Analysis Report | GHANA | 2016

Forestry and Logging

Water and Sewerage

Information and communication

Financial and Insurance Activities

Real Estate, Professional, Administrative &

Public Administration & Defense; Social

Health and Social Work

Community, Social & Personal Service

Gross Domestic Product at basic prices

Market Analysis Report | GHANA | 2016

Growth Rates of Domestic Product at 2006 Constant Prices (%)

Forestry and Logging

Mining and Quarrying

Trade; Repair of Vehicles, Household

Hotels and Restaurants

Transport and Storage

Information and communication

Real Estate, Professional, Administrative

Public Administration & Defense; Social

Health and Social Work

Community, Social & Personal Service

Gross Domestic Product at basic

Net Indirect Taxes

Gross Domestic Product in purchasers'

Oil and Gas

Financial and Insurance Activities

FISIM (Financial Intermediation Services

Market Analysis Report | GHANA | 2016

Market Analysis Report | GHANA | 2016

Market Analysis Report | GHANA | 2016

Foreign Direct Investments

Market Analysis Report | GHANA | 2016

$13.37 billion (2013 est.)

oil, gold, cocoa, timber, tuna,

France 13.6%, Italy 12.4%,

capital equipment, refined

China 25.6%, Nigeria 11%,

$13.54 billion (2012 est.)

$18.49 billion (2013 est.)