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Western Africa
Ghana Construction Market Report 2023


Report summary

ConstructAfrica’s Ghana Construction Market Report outlines major opportunities in various construction project sectors, provides rare insight into the workings of the industry, and gives a forecast for the direction of the market.

Included in the Ghana Construction Market Report:

  • Comprehensive picture of the Ghanaian Construction market
  • Analysis of the Ghanaian government’s Construction Industry policy direction 
  • Projects opportunities and procurement details
  • Detailed evaluation of the Ghanaian Construction Industry structure and trends
  • Interview with a key industry player covering a wide range of relevant issues
  • Contact information of key industry agencies and associations 
  • Profile and Contact details of top construction companies and material suppliers

Western Africa
Ghana Construction Market Report 2023

Report description

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.

ConstructAfrica’s Ghana Construction Market Report captures the state of the construction industry in Ghana. Included in 120 pages is a comprehensive look at the investment opportunities across various sectors, and an overview of how the industry operates including tender and procurement procedures, competition, regulatory and employment frameworks, industry entry barriers, cultural backgrounds and much more.

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.

Unique Value offered by the report

Elaborate and first hand insight into how the industry operatesEntry barriers, Procurement Process, Cost Trends, Labour Resource, Dispute Resolution, Industry Supply Chain.

A guide on doing business in GhanaRecruitment and Staffing regulations, Licensing regulations,  Health and Safety regulations, Market Entry processes.

SWOT Analysis of the Ghanaian Construction Sector

Analysis of Market Potential - Detailed information about project opportunities across Transportation, Energy and Power, Water and Sanitation, Health, Education and  other sub-sectors.

Interview With Mr.Kofi Adabor Ofori-Amanfo (General Manager - John Murphy Construction Limited) – This highly enlightening interview provides a direct stakeholder perspective on issues such as informal construction activities and the size of the industry, the impact of the pandemic and the Russia-Ukraine war on the prices of equipment and materials as well as employment, synergy of public and private sector initiatives especially in PPP’s, tender and procurement process in Ghana  and so much more.

Some projects that are covered in the report include:

  • The Ghana Nuclear Power Plant project valued at US$5.5 billion
  • The US$6 billion Petroleum facility in the Western Region
  • Construction and equipping of 597-bed University Hospital at Legon valued at US$42 million
  • The Keta Sea Port Project valued at US$600 million

Who will benefit from reading the 2023 Ghana Construction Market Report

This report provides optimal value to construction-related stakeholders such as :

  • Contractors
  • Manufacturers and Suppliers of materials
  • Financiers and Bankers
  • Economists and Investment Analysts
  • Policy makers and Government Agencies
  • Engineering consultants
  • PPP investors
  • Academics and Researchers