Ghana Construction Market Report

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.

The country'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.

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.

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 Highlights

• Construction revenue rose from just over GH₵10.4 billion (US$1.8 billion) in 2013 to GH₵29.3 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.