The Ghana construction market size is estimated at USD 11.3 billion in 2022, grown from 2013 at a CAGR of 13.2% and expected to grow at 5-7% annually for next 5-7 years too.
The key sectors in the Ghana construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction. Infrastructure construction was the leading sector in the Ghana construction market in 2022.
The construction sector in Ghana appears to be performing well, accounts for more than 15% of the country’s annual GDP and employs approximately 420,000 people.
It is estimated that 2,500 active building and construction contractors are working in Ghana. These include micro-enterprises and individual contractors to foreign multinational civil engineering and construction giants.
The Ghanaian government has also implemented a number of policies such as "One District, One Factory" and the "Agenda 111" hospitals project which have attracted local and foreign investors, leading to the emergence of several construction companies.
The building materials industry in Ghana (excluding cement) was approximately USD 3.8 billion at the end of 2021 of this figure, ceramics and roofing sheets toogether contributed $1.3 billion (about 33% of the industry)
Activity within the sector is driven largely by the rate of activities in the real estate market and the current demand for housing for the working and middle classes of the populace. In Ghana, the rapid population growth, high rate of urbanization and growing housing deficit has resulted in a high demand for housing units and growth in the real estate sector.
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