Ghana’s retail sector worth US$24.4Bn

Ghana’s retail commerce sector is currently valued at US$24.4 billion and it is projected to hit US$33.16 billion by 2024, according to the recent Global Retail Development Index.

In Africa, Ghana is ranked 1st and has been described as Africa’s new “bright spot” driven by increased foreign & public investment as well as urbanization of the population.

This comes at a time the operational phase of the Africa Continental Free Trade Area (AfCFTA) is about to commence in July this year with Ghana aiming to be both a front runner in the expected surge in intra-African trade, and one of the most preferred destinations on the continent for domestic and foreign investment in both the local production and the import of consumer goods ultimately sold to end users through retail outlets.

The index – which studies the global retailing landscape – ranks Ghana first in Africa and fourth globally as an abundance of small neighborhood shops offering low-income consumers value-for-money goods still dominate the highly fragmented retail market.

The new report’s findings are expected to put Ghana under the spotlight for investors in retail commerce in consumer goods from around Africa and the wider global economy as a whole since it presents Ghana as one of the most vibrant and lucrative markets for sales of consumer goods.

However, Ghana is still sorting out its issues about the eligibility of foreign enterprises to engage in retailing since the existing Ghana Investment Promotion Centre (GIPC) Act, 2013 (Act 865, Section 28) limits such activities in the sector by setting minimum start up capital for foreign owned retailers at US$1 million.

While several major international brands including South Africa’s Shoprite and Game have met this requirement and are very active in Ghana especially in the emergent shopping malls, most foreign retailers from neighbouring African countries are small scale and have failed to meet the required minimum.

Instructively, Ghana Union of Traders Association (GUTA) has been engaging with government to apply the eligibility criteria on foreign traders from the West African sub-region, particularly Nigerians and thus stop most of them from engaging in retailing on the basis of GIPC’s investment code. However, this provision is contrary to ECOWAS protocol to Ghana is a signatory, a situation which retailers from these countries, backed by their respective foreign missions here stand on to continue their activities.

The resultant ongoing impasse between GUTA and Nigerian traders is pushing government to make a decision on whether or not to still stand by its investment code in defiance of the ECOWAS protocol.

Indeed, Goldstreet Business understands that the ongoing review of the GIPC investment code may remove that clause that restricts small scale retail trade exclusively to Ghanaian indigenes.


The new global retail report identifies that urbanization will be a major driver for modern retailing business, as space in department and variety stores is targeted to grow by 15 percent by the end of year 2023.

Currently, retailing in small stalls in open markets still dominates, although independent small grocers are also popular.

Ghana’s growing middle class, comprising discerning and financially empowered retail shoppers is another driving force behind the rapid growth of its retail sales sector

Senegal ranks 7th in the report; Morocco, 12th; Tunisia, 25th; Egypt comes 26th, Tanzania and Nigeria at 28th and 30th respectively.


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    We went to university together As with real activity and inflation, the outlook for the future path of the federal funds rate is subject to considerable uncertainty. This uncertainty arises primarily because each participant\'s assessment of the appropriate stance of monetary policy depends importantly on the evolution of real activity and inflation over time. If economic conditions evolve in an unexpected manner, then assessments of the appropriate setting of the federal funds rate would change from that point forward.\n review\r BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.\n 1.25 mg abilify \"We shall not forget to mention our prisoners [incarcerated] in the oppressive U.S. jails, some of whom have been imprisoned for 20 years, such as the mujahid sheikh \'Omar \'Abd Al-Rahman [aka the Blind Sheikh], nor shall we forget our prisoners in Guantanamo, chief among them the mujahid Khaled Sheikh Muhammad...\"\n pharmacy 777 bridgetown online prescriptions Many economists now think the Fed will refrain from scaling back its easy money policy, which has kept borrowing costs low, until next year. The central bank surprised market participants in September when it held off on any plans to trim its stimulus.\n vaporfi vape juice Byron Champ, 21, and Kewane Gatewood, 20, are charged with attempted murder and aggravated battery with a firearm in the shooting Thursday night at Cornell Square Park on Chicago\'s southwest side, police said late Monday. The suspects\' home towns were not revealed.\n

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    I work for myself arcoxia 120 mg side effects \"The SPD decided that we\'ll be available for exploratory talks with Frau Merkel,\" said Gabriel, 54, at the end of the four-hour meeting after dozens of SPD activists protested loudly against a grand coalition outside party headquarters.\n viagra 100mg sildenafil tablets The debt ceiling deals with money that the U.S. has ALREADY SPENT!!! Congress is essentially playing chicken with not paying for stuff they already bought. If they want to deal with the budget, great they should be trying to curb current and future spending, but don’t screw with the credit worthiness of the country…\n donde comprar disulfiram en mexico Even as the president spoke at the Rose Garden, more problems were coming to light. The administration acknowledged that a planned upgrade to the website had been postponed indefinitely and that online Spanish-language signups would remain unavailable, despite a promise to Hispanic groups that the capability would start this week. And the government tweaked the website\'s home page so visitors can now view phone numbers to apply the old-fashioned way or window-shop for insurance rates without registering first.\n NEW ORLEANS, Oct 1 (Reuters) - BP Plc unnecessarilydelayed the capping of its Macondo well and worsened the extentof the 2010 Gulf of Mexico oil spill through dithering andindecision, according to allegations by plaintiffs\' lawyers onTuesday that the British company denied.\n da sutra 30x The administration members who testified at the hearing — Secretary of State John Kerry, Defense Secretary Chuck Hagel and Gen. Martin Dempsey, chairman of the Joint Chiefs of Staff — at times struggled to make convincing arguments to the Senate committee.\n

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    Have you got a telephone directory? Besides its drive to liberalize the country\'s copyright policy — which currently allows third-party agencies to sue kids who spend a few minutes downloading songs — the party advocates guaranteeing minimum basic incomes for all citizens and allowing all residents, not just registered citizens, to vote.\n how long before prednisone starts working for poison ivy Mr Weiner has seen his campaign support ratings plummet from 26 per cent to just 16 per cent, following a “sexting” scandal. Weiner sent indecent photographs of himself to a 22-year-old woman, using the alias ‘Carlos Danger’.\n liquid nourishment for adults The company said late on Monday it would pay 1.03 billion euros ($1.41 billion) to buy half the spectrum on offer in an auction for Austrian fourth-generation frequencies, almost three times as much as most analysts had expected.\n FILE - In this March 30, 2010 file picture the globe of the European Organization for Nuclear Research, CERN, is illuminated outside Geneva, Switzerland. Two scientific teams have for the first time precisely recorded an extremely rare event in physics that adds certainty to how we think the universe began, leaders at the world\'s top particle physics lab said Friday July 19, 2013. Two of the teams at the European Center for Nuclear Research, or CERN, say they measured a particle called \"Bs\" decaying into a pair of muons, a fundamental particle. The results are being formally unveiled at a major physics conference in Stockholm later Friday. (AP Photo/Anja Niedringhaus,File)\n In America’s largest public school system, a place with its share of stubborn problems, a mind-boggling amount of exemplary, inspiring education happens daily. These heroes represent a small slice.\n

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    I\'ve just started at eye magic palette The two were brought together as part of an emergency solution in the heat of Europe\'s debt crisis. At the time, Greece was on the brink of a financial collapse that would have pushed it out of the 17-nation eurozone, with potentially devastating consequences for the group as a whole.\n long upper leg bone WHO experts last month said countries at risk from MERSshould put in place plans for handling mass gatherings but hasstopped short of recommending restrictions on travel. (Reporting by Julie Steenhuysen; Editing by Doina Chiacu)\n tonira pharma ltd vadodara Snowden’s leaks have embarrassed the United States by exposing the global extent of its surveillance programmes. Washington has said its spies operate within the law and that the leaks have damaged national security.\n can you take 2 800 mg of ibuprofen A formal complaint about Ireland\'s position in relation to this issue was recently made by the Association for the Protection of All Children (APPROACH). The Government has four weeks to respond to the European Committee of Social Rights about this complaint.\n Meanwhile, at Wednesday’s meeting with Fudge, the Baptist ministers hoped to recruit “federal allies for our cause,” said the Rev. Michael Owens of Bethel Baptist Church East, who led the group. The ministers argued that Detroit is — to use a phrase from the 2008-09 national fiscal crisis — “too big to fail” and its pensioners should be protected.\n

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    No, I\'m not particularly sporty www.keezmivies. com\r Israel's left-wing opposition leaders responded coolly to the speech, but their condemnations seemed lackluster. Labor party member Yitzhak Herzog, for example, said that though \"the prime minister's speech was well-founded, it did not grapple with the changes of the past ten days.\" \n

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    A Second Class stamp China has faced criticism from Western countries for whatthey call its cultural and religious repression of ethnicminorities, including Tibetans and Muslim Uighurs in the vastwestern Xinjiang region.\n bicep tricep chest arms man muscles building leaning She admitted verbally abusing staff, occasionally within earshot of colleagues and members of the public, saying “you’re always ******* doing this; you\'re always  *******  off sick”, “you had no  ******* intention of being here today”, “I thought I  *******  asked you for a sample”, “you better get a  *******  form signed first”, “I’m not  *******  signing that”, “I’ve had  *******  enough of this” and “I haven’t even got a  *******  job after this”.\n Data center operator Zayo Group pulled an effort to repricea $1.6 billion term loan B in late September. The company aimedto reprice the TLB to LIB 300 with a 1 percent Libor floor, fromLIB 350 with a 1 percent floor. Investors saw that deal asaggressive, given that the company just repriced this loan lastFebruary, and prior to that, in October 2012.\n vagifem coupon 2015 Acting Det Ch Insp Keith Braithwaite said: \"Derek Osbourne made and distributed indecent images of children. His actions have inevitably contributed to the destruction of many victims' childhoods.\"\n costa rica pharmacy rules\r “Now it will be interesting to see whether the victorious proponents of gay marriage will show tolerance toward those who disagreed with them when the issue was still in dispute,” Card continued.\n

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    What do you study?\r Rodriguez’s attorneys were also expected to accuse MLB officials of intimidating Bosch into cooperating with them, and then buying his testimony. Bosch is a defendant in a lawsuit MLB filed in Florida state court in March that accuses him and other Biogenesis associates of tortious interference with baseball’s basic agreement with the Players Association. MLB agreed to drop Bosch from the suit, cover his legal expenses, indemnify him from litigation that may arise as a result of his testimony and put in a good word with law-enforcement officials.\n

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    I\'ve been cut off sutherland pharmacy orkney August 3, 2013: Pedestrians gather as police and fire officials respond after a car drove through a packed afternoon crowd along the Venice Beach boardwalk in Los Angeles. At least a dozen people were injured, two of them critically, according to police. (AP Photo)\n arimidex cena sterydy Saudi operators have focused on data and combined servicesto help offset slumping conventional call margins, which areunder pressure due to the surging popularity of substituteservices such as Internet-based phone calls and instantmessaging.\n liv.52 ds yahoo answers\r Savills, which competes with CBRE Group Inc andJones Lang LaSalle Inc, said its first-half performancehad also been helped by restructuring and reinvestment incontinental Europe, reducing losses there.\n testoforce info FRANKFURT, Aug 8 (Reuters) - Commerzbank AG endeda series of disappointing results statements as a pickup in itsinvestment bank and lower provisions for bad shipping loans tookthe sting out of a sharp fall in quarterly net profit.\n foredi tulungagung \"Cory was a beautiful soul. He was not perfect, which many of us here tonight can relate to. His death is a tragic reminder of the rapacious, senseless destruction that is brought on by addiction,\" Lynch said. \"If you were lucky enough to know Cory as we did, and witness firsthand Cory\'s goofy, breezy sense of humor, his natural instinct for inclusiveness and his unbridled sense of generosity day in and day out, I promise you have loved him even more.\"\n

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