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Construction in Ghana - Key Trends and Opportunitiesg (H2 2021)

Published: | GlobalData | 20 Pages | Delivery time: 1-2 business days

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Construction in Ghana - Key Trends and Opportunitiesg (H2 2021)
Published: December 7, 2021
GlobalData
Content info: 20 Pages
Delivery time: 1-2 business days
  • Description
  • Table of Contents
  • List of Tables

Ghana's construction industry expanded by 8.2% year on year (YoY) in real terms in the first half of 2021. The industry had previously grown by just 2.9% in 2020; the outcome for the year would have been worse were it not for the strong 8.5% growth in the last quarter of the year. GlobalData now expects Ghana's construction industry to register growth of 6.8% in 2021, and an annual average growth rate of 4.4% between 2022 and 2025. In comparison with other economies in West Africa, Ghana's response to the Coronavirus (COVID-19) pandemic was much swifter, enacting earlier lockdown measures and kick-starting its 'Ghana Beyond Aid' initiative. The initiative aims to diversify Ghana's manufacturing base and overhaul its taxation structure, increasing the resilience of the economy.

The construction industry's medium-term outlook looks positive, supported by infrastructure investment and industrialization projects under the 'Ghana Beyond Aid' initiative. The 'One District, One Factory' scheme will provide further support; as of November 2021, the scheme has 150 projects at various stages of construction, of which 104 are completed and operational. Ghana also has a relatively sophisticated automotive industry, and exports to other African economies are likely to remain strong, aiding the expansion of the industrial sector. The declaration of the Public Private Partnerships (PPP) Bill, the current version of which was first drafted in 2016, will be key in driving development in the construction industry. The PPP Bill seeks to establish an all-inclusive legal framework for the assessment, implementation and regulation of PPP arrangements and projects between public institutions and agencies and private bodies for the provision of public infrastructure and services.

In the recent budget announced in November 2021, for the fiscal year (FY) 2022, the government projected capital expenditure of GHS16.4 billion (US$2.8 billion), in a 28.8% increase from the previous budget. In the budget, the government announced plans to develop road networks, as well as provide other infrastructure such as power, water and telecommunication facilities at tourist sites to revive the tourism industry. The government also has several road projects in the pipeline for 2022, including the Kumasi South and Western Bypass, Kumasi Outer Ring Road, Mamfe-Koforidua Road, Oyibi-Dodowa-Somanya-Akuse Jn. Road, the Accra Outer Ring Road, Asutuare Junction-Volivo Bridge, Eastern Corridor Road (Gbintiri-Kulungugu) and the Sawla-Wa Road. Moreover, five interchanges will be constructed in the Greater Kumasi Metropolitan Area in 2022.

In conjunction with the National Health Insurance Scheme, the government announced the Agenda 111 programme in August 2021, which will boost health care infrastructure with the construction of 101 district hospitals, six regional hospitals in the newly created regions, two specialized hospitals in the middle and northern belts, a regional hospital in the Western Region and the renovation of the Effia-Nkwanta Regional Hospital by 2030. The government is also focusing on the development of the railway sector, and thus in May 2021 the government outlined three major railway projects to develop under the PPP model, with an estimated expenditure of GHS76.7 billion (US$12.9 billion). This includes a GHS33.9 billion (US$5.7 billion) light rail transit (LRT) network comprising seven corridors in Kumasi, the GHS19.6 billion (US$3.3 billion) 672km Central Spine line and the GHS22.6 billion (US$3.8 billion) 550km Trans-Ecowas railway.

GlobalData's Construction in Ghana - Country Briefing (H2 2021) report provides detailed market analysis, information and insights into Ghana's construction industry, including -

  • Ghana's construction industry's growth prospects by market, project type and construction activity
  • Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Ghana's construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Scope

This report provides a comprehensive analysis of the construction industry in Ghana. It provides -

  • Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Ghana, featuring details of key growth drivers.
  • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
  • Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
  • Listings of major projects, in addition to details of leading contractors and consultants

Reasons to Buy

  • Identify and evaluate market opportunities using GlobalData's standardized valuation and forecasting methodologies.
  • Assess market growth potential at a micro-level with over 600 time-series data forecasts.
  • Understand the latest industry and market trends.
  • Formulate and validate strategy using GlobalData's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.
Product Code: GDCN0762MR

Table of Contents

Table of Contents

  • Construction Outlook
  • Construction Industry: At-a-Glance
  • Latest News and Developments
  • Project Analytics
  • Construction Market Data
  • Risk Profile
  • About GlobalData
  • Definitions
  • CRI Methodology

List of Tables

List of Tables

  • Table 1: Construction Industry Key Data
  • Table 2: Ghana, Top Construction Projects by Value
  • Table 3: Ghana, Construction Output Value (Real, US$ Million)
  • Table 4: Ghana, Construction Output Value (Nominal, GHS Million)
  • Table 5: GlobalData Construction Market Definitions
  • Table 6: Risk Dimensions
  • Table 7: Ratings, Scores and Definitions

List of Figures

List of Figures

  • Figure 1: Ghana, Construction Output Value (Real, US$ Million, 2017 Prices and Exchange Rate), 2016-2025
  • Figure 2: Ghana, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
  • Figure 3: Africa, Construction Output (Real % Change), 2020 and 2021
  • Figure 4: Ghana, Construction Projects Pipeline by Sector (US$ Million)
  • Figure 5: Ghana, Construction Value Add (GHS Million, 2013 Constant Prices)
  • Figure 6: Ghana, Real Estate Value Add (GHS Million, 2013 Constant Prices)
  • Figure 7: Ghana, Prime Building Costs Index (1997=100)
  • Figure 8: Ghana, Construction Projects Pipeline, Value by Stage (US$ Million)
  • Figure 9: Ghana, Risk Summary
  • Figure 10: Ghana, Risk Regional Comparison