Ghana Construction Industry Report 2023: A Large Untapped Market Primed for Investments with an Abundance of Affordable Housing, Commercial Buildings, and Infrastructure Developments

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Aug 25, 2023, 11:30 ET

DUBLIN, Aug. 25, 2023 /PRNewswire/ -- The "Ghana Construction Market Report" report has been added to ResearchAndMarkets.com's offering.

Ghana's construction industry has an estimated market size of between US$9 billion to US$13.2 billion and accounts for 7.2% of the country's GDP.

Ghana has a reputation for being an attractive investment destination with a wide range of opportunities due to its stable political environment and business-friendly conditions. In recent years, the government has made significant investments in infrastructure development, driving rapid growth in the country's construction sector, and providing opportunities for investors and businesses in the industry.

The Ghanaian government has also implemented a number of policies such as "One District, One Factory" and the "Agenda 111" hospitals project which have attracted local and foreign investors, leading to the emergence of several construction companies. Ghana's construction sector offers several opportunities in commercial, residential, industrial and infrastructure construction.

The Ghana Construction Market Report details the state of the construction industry in Ghana. Included in 120 pages is a comprehensive look at the industry, including opportunities in various sectors, and an overview of how the industry operates including tender and procurement procedures, competition, and industry entry barriers.

Also featured in the report is an interview with an Industry stakeholders, providing insights and industry tips for prospective investors.

Key Highlights

Construction revenue rose from just over GHc10.4 billion (US$1.8 billion) in 2013 to GHc29.3 billion (US$5.2 billion) in 2021 - a CAGR of 13.8%.
Data from the Ghana Statistical Service (GSS) showed that the construction sector expanded by 14.25% and 12.4% (year-on-year) in the Q1 and Q2 of 2021, culminating in an average annual growth of 5.9% in the same year.
The outlook for Ghana's construction sector remains moderately positive, primarily driven by government fiscal plans for infrastructure.
The government's efforts to boost infrastructure through PPP initiatives, private investments, and FDI in the mining, oil, and gas and benefits of the AFCFTA will position Ghana as one of the leading markets in the region.
Ghana has a largely untapped market for affordable housing, commercial buildings, and infrastructure development. This presents a significant opportunity for investors and businesses in the country's construction industry.
The urbanization of Ghana's rapidly growing population, together with the expanding middle class, will continue to drive demand for residential and commercial buildings.
An interview featuring the director of a major construction company in Ghana.

The report also contains competitive intelligence on key players in Ghana's construction industry, including:

Contact details and web links of industry associations,
Full details and contact information for 18 key local and foreign players in the industry.

Key Topics Covered:

1. Executive Summary

2. Ghana Country Overview

Geography
Key Cities
Political Situation
Economic Overview
Country Budget

3. The Construction Sector in Ghana

Sector Overview
Size of the Construction Sector
Construction Market Segments
Employment in the Construction Sector
Interview with Kofi Adabor Ofori-Amanfo

4. Market Potentials by Sector

Energy and Power Sector
Water and Sanitation
Transportation
Social Housing
Education
Health Sector

5. How the Construction Sector Operates

Competition
Barriers to Entry
Public Procurement and Tendering Process
Industry Supply Chain
Tender Prices and Construction Costs Trend
Labour Resources
Contractual Risks and Dispute Resolution

6. Doing Business in Ghana

Entering the Market
Business Registration
Permits and Licensing
Language
Corruption
Retaining and Recruiting Staff
Health and Safety

7. SWOT Analysis

Strengths and Weaknesses
Opportunities and Threats
General Comments

8. Construction Market Outlook

9. Industry Associations

10. Company Profiles

11. References

12. Appendix - Building Materials/Equipment/Labour Price Lists

For more information about this report visit https://www.researchandmarkets.com/r/ex950o

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