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The Wholesale and Retail of Food in Ghana
Food retail in West Africa is one of the most under-penetrated in the world with less than 5% of food currently sold through organised retail channels. In Ghana the sector is dominated by informal retailers whose traditional retail outlets include open air markets, street side vendors and non-self-service shops. Importers and distributors estimate that 85% of their business is to the open market where retailers and wholesalers source products and then return to their respective home towns to sell products locally. Formal food retailing currently accounts for less than 5% of overall sales.
A Sector Well-Positioned for Growth
Although high economic growth in Ghana has been tempered recently by the energy crisis, depressed commodity prices and macroeconomic imbalances, international retailers see Ghana as a gateway to a larger West African market of more than 260 million people. The number of modern supermarkets and small grocers has grown by around 3% over the past two years as foreign retailers have entered the market. Stakeholders believe the formal wholesale and retail of food in Ghana is a sector well-positioned for growth as the country has one of the strongest middle classes in sub-Saharan Africa. Ghana’s middle class comprised 1.3 million households or just over 5% of the population in 2014 and this is expected to increase by a further 1.6 million by 2030. The growing urban population which reached 54.04% of the total population in 2015 is also attractive to formal retailers situated in increasingly popular shopping centres.
The report on the Wholesale and Retail of Food in Ghana examines current conditions, the regulatory environment and factors that influence the success of the sector. Profiles are provided for 11 wholesalers and retailers including the largest supermarket chains, domestic players Maxmart and Melcom, as well as South African role players, Shoprite and Massmart Holdings Ltd. Also profiled are two local companies that form part of the Wolley Group, the Koala Shopping Centre Ltd and wholesaler, Woimex Ltd.