Connect with us


There’s a positive outlook for mass grocery retail in Ghana as household spending increases

Basically, the projected increase in household spending means that more Ghanaian households will have more disposable incomes to purchase food, drinks and other consumables. And a lot of these items will most likely be purchased at formal grocery shops, as Ghanaians look out for shopping incentives.

In the meantime, the report pointed out that the projected increase in household spending will be threatened by Ghana’s ‘stubbornly high’ inflation rate. Seeing as the country’s inflation rate is forecast at 8.7% per annum over the medium term, households might still need to prioritise their spending.

“Looking ahead, we forecast disposable income growth to remain positive over the medium term, expanding by an annual average of 8.3% a year, reaching GHS44,697 (USD6,695) in 2025. However, we do note that the inflation rate in the country is stubbornly high, impacting the real gains in disposable incomes. At a forecasted average annual inflation rate at 8.7% over the medium term, match nominal income growth, households in Ghana will remain price sensitive and will continue to prioritise essential spending categories over this period. With food and non-alcoholic drinks being the largest portion of household budgets, we believe there is potential for the consumer to shift into formal MGR, looking for deals and the lower prices that supermarkets will offer to lure in consumers,” said a part of the report by Fitch Solutions.

As it is the case in many countries in Sub Saharan Africa, large portions of household spending in Ghana go towards the purchase of food and drinks. And in line with the country’s growing urban population, there has been increasing patronage of mass grocery retail outlets in the country. Fitch Solutions expects this trend to continue over the coming years. And this will present a positive outlook for malls and supermarkets in the West African country.

READ ALSO  2023: Nigeria Police acquires 530 operational vehicles, 2,500 bullet-proof vests





Metro5 days ago

NSCDC Trains Katsina Command Operatives in Peace, Conflict Resolution

Conflict resolution NSCDC trains Katsina Command operatives in peace   The Nigeria Security and Civil Defense Corps organized a training...

Entertainment5 days ago

Davido, WizKid, Burna Boy To Perform At Afro Nation 2022

A three-day celebration of Afrobeats will feature Burna Boy, Davido and Wizkid performing on different days. Other global artists like...

News5 days ago

Kumuyi launches empowerment programme for youths

On Saturday, the Deeper Christian Life Ministry launched Young Eagles Soaring, an empowerment program to help youths learn professional skills....

Health5 days ago

Poor Health Services Amid Nigerians’ Right Under National Insurance Act

Poor Health Services Despite Nigerians’ Rights under the National Insurance Act   Nigeria’s healthcare delivery has been faced with major...

Metro5 days ago

Again, gunmen attack Kogi police station, kill cop

On Friday, suspected gunmen attacked the Okehi Area Command for the Nigeria Police at Eika-Ohizenyi within the Okehi Local Government...

Health5 days ago

Foundation Advocates Creation Of Craniofacial Unit In LAUTECH

Dr Seidu Bello is the executive director of Cleft and Facial Deformity Foundation and has asked for the creation of...

Health5 days ago

We’re Investing $10.8m To Aid Safe Births In Public Hospitals – Onyemelukwe

In this interview with the director, Public Affairs, Communications and Sustainability, Coca-Cola Nigeria, Nwamaka Onyemelukwe, she details what her organisation...

Business5 days ago

PCN seals 358 pharmacies, others in Abuja

The Pharmacists Council of Nigeria sealed approximately 358 pharmacies in Abuja and patent medicine shops. Ibrahim Ahmed, the Registrar of...

Popular Tags


Copyright © 2022 - is a daily News publication In Nigeria covering Latest news, Breaking News, Politics, Relationships, Entertainments and Sports.