Ghana is a dynamically developing democracy of Western Africa. It is the second largest economy in the region. The country owes this status to strong exports of cocoa, gold and oil. The economy of the country is predominantly sustainable, showing steady GDP growth. However, there are now certain problems in the economy which include currency weakening, and thus the increase of prices for the imported goods.
Due to economic growth more and more families are gaining the lower middle income status. The average monthly net salary is $320. However, there still remains the 30% poverty level. Being a rural country, large cities are not numerous. They are Accra (2,291,352 ppl), – which is also the capital of the country – Kumasi (2,069,350), Tamale (562,919), Takoradi (445,205) and Achiaman (202,932).
Franchising is a developing branch in Ghana. The economic growth demonstrated in the past years has created opportunities for franchising and the interest towards it is rapidly increasing. The most successful franchise businesses were mainly in the retail grocery sector.
The problems associated with launching and operating a franchise business in Ghana include the lack of qualified staff, certain infrastructural hindrances (e.g. it is hard to maintain chain supply), a high entrance fee especially for purchasing international franchises, high real estate prices in large cities as well as the low purchasing potential.
Currency: Ghana cedi
Education Index (2013): 0.553
Official languages: English
Per capita GDP (PPP): $4,604
Quality-of-life index (0-10): out of list
Population: 28.21 mln
Total GDP (PPP): $130.208 billion
Ease of Doing Business Ranking, Rank: 120
Human Development Index (HDI): 0.579