Business News of Monday, 20 January 2020Source: goldstreetbusiness.comGhana’s retail sector worth US$24.4BnThe report is expected to put Ghana under the investor spotlightGhana’s retail commerce sector is currently valued at US$24.4 billion and it is projected to hit US$33.16 billion by 2024, according to the recent Global Retail Development Index. In Africa, Ghana is ranked 1st and has been described as Africa’s new “bright spot” driven by increased foreign & public investment as well as urbanization of the population. Indeed, Goldstreet Business understands that the ongoing review of the GIPC investment code may remove that clause that restricts small scale retail trade exclusively to Ghanaian indigenes. IndexThe new global retail report identifies that urbanization will be a major driver for modern retailing business, as space in department and variety stores is targeted to grow by 15 percent by the end of year 2023. Currently, retailing in small stalls in open markets still dominates, although independent small grocers are also popular.

Source: GhanaWeb January 20, 2020 09:22 UTC