Ghana: Retail Foods Report
Occupying 28th position on the 2016 edition of the Global Retail Development Index by A.T Kearney, Ghana has finally broken into the top 30 countries with massive potential for thriving retail business in the world. Ghana, a model of stability in West Africa, has over the last six years, had its economy grow by an average of six percent each year, hitting a record-breaking 14 percent in 2011. Growth declined in the following years down to GDP value of 3.9 percent in 2015, the slowest growth rate in 20 years. In 2017, economists expect the country to post strong growth of around seven percent. A middle class is fast emerging, with its attendant wealthy consumers who are increasingly embracing western brands, products and lifestyles. Therein lies business opportunities for exporters of retail foods, namely cereals, meat (including poultry) and meat products, soybean meal, prepared food, skim milk powder and other high-value products from the United States.