Top 10 Fastest Growing Businesses in Ghana This Year

Ghana stands as one of the most promising economies in Africa, with significant growth in various sectors.

The country’s strategic location in West Africa, along with its rich resources and youthful population, makes it an attractive destination for both local and international businesses.

As we look toward next year and beyond, several sectors in Ghana are poised for explosive growth. From technology to agriculture and renewable energy, the opportunities are vast.

In this article, we’ll discuss the fastest growing business in Ghana this year, outlining the sectors with the highest potential for growth.

10 Fastest Growing Businesses in Ghana

1. Technology & digital innovation

Ghana’s technology sector has been one of the fastest growing industries in recent years, with 2024 marking a year of significant milestones.

Ghana is rapidly becoming a tech hub in Africa, driven by advancements in fintech, software development, artificial intelligence, and digital platforms.

With initiatives such as the “Ghana Digital Transformation Agenda,” the country aims to digitize key sectors of the economy, creating immense opportunities for tech-driven businesses.

Key areas of growth

• Fintech: Ghana’s fintech ecosystem has seen remarkable growth, with mobile money, online banking, and peer-to-peer lending platforms gaining traction. Companies like MTN Mobile Money and Slydepay are leading the charge, making financial services more accessible to millions of Ghanaians, especially in underserved rural areas. The government’s push for a cashless society will continue to drive growth in this sector.
• E-commerce: With the rise of digital infrastructure, e-commerce in Ghana has surged, particularly during the COVID-19 pandemic. Online platforms such as Jumia Ghana and Tonaton have seen exponential growth in recent years, offering everything from electronics to groceries. As internet penetration increases, more Ghanaians are expected to shop online, making e-commerce a lucrative business to explore.
• Artificial intelligence (AI) & software development: Ghana has also seen growth in AI, data science, and software development. The country is home to numerous tech startups working in AI, machine learning, and big data analytics. These businesses are addressing challenges in healthcare, agriculture, and education, offering innovative solutions that will continue to gain traction in 2025 and beyond.

Why invest in tech in Ghana?

• Government support: The Ghanaian government has introduced numerous initiatives to foster tech growth, including the Digital Skills for the Workforce Program and various tax incentives for technology businesses.
• Skilled workforce: Ghana boasts a young, educated, and tech-savvy workforce, providing companies with a talent pool for growth.
• Growing digital infrastructure: The expansion of internet and mobile services is accelerating, offering businesses greater reach to consumers.

Read Also: 100 Business Ideas in Ghana for Ladies This Year

2. Renewable energy

As Ghana’s energy demand continues to grow, the renewable energy sector has become one of the fastest growing business sectors in the country. With a national energy deficit and a growing need for sustainable energy sources, both local and international businesses are investing heavily in solar, wind, and hydropower solutions.

Key areas of growth

• Solar energy: Solar power is one of the most promising renewable energy sources in Ghana. The country receives abundant sunshine throughout the year, making solar energy a viable alternative to traditional power sources.
• Wind energy: Ghana’s coastal areas present significant potential for wind energy production. As the global shift toward clean energy accelerates, Ghana is poised to become a key player in the wind energy market.
• Hydropower: Although Ghana already generates a significant portion of its electricity from hydropower, the sector is still expanding. The Bui Power Authority continues to develop additional hydropower projects that will increase the country’s energy capacity.

Why invest in renewable energy in Ghana?

• Government commitment to sustainable Development: Ghana’s commitment to sustainable energy is clear through its participation in the Paris Agreement and the Renewable Energy Act of 2011.
• Investment incentives: The government offers attractive incentives for businesses that invest in renewable energy, including tax exemptions and reduced import duties on renewable energy equipment.
• Energy demand: The demand for electricity in Ghana is expected to continue growing, with a projected population increase and industrial expansion.

3. Agribusiness

Agriculture has always been a cornerstone of Ghana’s economy, employing a significant portion of the population. As of 2024, agribusiness continues to be a fast-growing sector, offering tremendous opportunities for investment.

The government’s focus on agriculture and rural development has bolstered the sector’s growth, with initiatives aimed at improving food security, boosting exports, and enhancing production techniques.

Key areas of growth

• Agroprocessing: With Ghana being a major producer of cocoa, palm oil, and shea, there is a growing demand for agroprocessing businesses that can add value to raw agricultural products. Companies that process cocoa into chocolate or palm oil into edible products are seeing a steady rise in demand both locally and internationally.
• Livestock farming: The livestock sector, particularly poultry farming, is experiencing growth. As Ghana’s middle class expands, so does the demand for meat products, creating opportunities for businesses in the poultry and livestock farming industries.
• Sustainable farming: With global trends moving toward organic and sustainable farming, businesses that specialize in organic produce or sustainable farming practices are gaining popularity in Ghana. Farmers using techniques that focus on preserving soil health and minimizing environmental impact are seeing increased demand.

Why invest in agribusiness in Ghana?

• Large domestic market: With a population of over 32 million people and a growing middle class, Ghana presents a large and growing market for agricultural products.
• Government support: The government’s Planting for Food and Jobs initiative and other agricultural policies aim to boost local production and reduce food imports.
• Access to regional markets: Ghana’s position in West Africa makes it an ideal hub for exporting agricultural products to neighboring countries and beyond.

4. Real estate

Ghana’s real estate sector is another rapidly growing business area. With an urbanization rate of over 3% annually, the demand for housing, commercial spaces, and infrastructure development is rising. This is creating a host of opportunities for real estate developers, contractors, and investors.

Key areas of growth

• Residential housing: There is a huge demand for affordable and middle-class housing in urban centers such as Accra, Kumasi, and Takoradi. As more people migrate to cities in search of better job opportunities, the need for housing will continue to grow.
• Commercial real estate: The commercial real estate market is also expanding. With Ghana’s growing economy and influx of foreign businesses, there is a need for office spaces, retail centers, and hospitality properties. Accra, in particular, is experiencing a boom in commercial real estate development.
• Infrastructure projects: Major infrastructure projects, including road networks, airports, and port expansions, are driving the demand for construction services and related businesses. The government’s commitment to improving infrastructure under its Coastal Development Initiative will continue to open opportunities for businesses in construction and engineering.

Why invest in real estate in Ghana?

• Urbanization trend: With rapid urbanization, demand for both residential and commercial real estate will continue to increase in the coming years.
• Government investments in infrastructure: The government’s efforts to improve infrastructure, including roads, ports, and public transport, will create a favorable environment for real estate development.
• Growing economy: Ghana’s stable economic growth and increasing foreign investment provide a solid foundation for the real estate market to thrive.

5. Education & skills development

With Ghana’s young and vibrant population, the education sector continues to grow, with businesses emerging to meet the demand for quality education and skills development.

As the country seeks to position itself as a regional hub for education, new opportunities are emerging in both traditional education and online learning.

Key areas of growth

• Vocational and technical training: As the demand for skilled workers in sectors like construction, technology, and manufacturing grows, so does the need for vocational and technical education. Businesses that offer specialized training in these fields are in high demand.
• E-Learning and online education: With the rise of internet usage, e-learning platforms have gained popularity in Ghana. Companies offering online courses, tutoring services, and digital education solutions are experiencing growth. Platforms such as MELLO, an online learning platform, are helping students access quality education from anywhere.
• International Schools: As the middle class grows, many parents are seeking international-standard education for their children. Private international schools offering curricula like the British IGCSE and American High School Diploma are on the rise.

Why invest in education in Ghana?

• Young population: Ghana has one of the youngest populations in Africa, which means there will be a steady demand for educational services in the coming years.
• Government support: The government is increasing its focus on education, with programs such as the Free Senior High School policy and investments in expanding technical education.
• Growing middle class: As the middle class grows, so does the demand for high-quality education services, including international-standard schools and specialized training programs.

6. Tourism and hospitality

Ghana is increasingly becoming a hotspot for both regional and international tourism. The country boasts a rich cultural heritage, stunning landscapes, and a growing infrastructure that supports the tourism and hospitality sector. As the global travel industry recovers post-pandemic, Ghana’s tourism industry is on an upward trajectory, with expectations of significant growth by 2025 and beyond.

Key areas of growth

• Eco-tourism: Ghana’s vast natural beauty, including pristine beaches, rainforests, and wildlife reserves, makes it a prime destination for eco-tourism. Eco-conscious travelers are increasingly seeking out destinations like Kakum National Park and Mole National Park for wildlife safaris and nature-based experiences.
• Cultural tourism: With its rich cultural history, including significant historical sites like Cape Coast Castle and The W.E.B. Du Bois Center, Ghana has become a key destination for those interested in exploring the African diaspora, slavery history, and indigenous cultures.
• Luxury hospitality and resorts: Ghana’s growing middle class, combined with increasing international interest, has led to an uptick in demand for upscale hotels, resorts, and boutique accommodations. The rise of Accra’s luxury hotels and coastal resorts is driving the expansion of the hospitality industry.

Read Also: 100 Small Business Ideas in Ghana to Start This Year

Why invest in tourism and hospitality in Ghana?

• Government promotion of tourism: The Ghana Tourism Authority is making strategic moves to boost the tourism sector, including the “Year of Return“ initiative and its follow-up, “Beyond the Return“, which encourages African diasporans to visit Ghana.
• Growing infrastructural developments: The construction of new hotels, airports, and improved road infrastructure is enhancing the ease of travel within the country.
• Untapped market potential: Ghana’s tourism sector is still developing, which means there are numerous untapped opportunities, particularly in niche tourism markets like wellness tourism, heritage tours, and adventure tourism.

7. Healthcare

Healthcare in Ghana is undergoing a transformation, driven by both public and private sector investments. As Ghana’s population grows, so does the demand for quality healthcare services. This sector is one of the fastest-growing industries in the country, offering numerous opportunities for investors, especially in the fields of medical technology, pharmaceuticals, and health services.

Key areas of growth

• Private hospitals and clinics: There is a growing need for high-quality private healthcare facilities in urban and rural areas. Companies like Korle Bu Teaching Hospital and MedeAnalytics are spearheading the drive to modernize healthcare facilities and improve medical services.
• Pharmaceuticals and health products: The pharmaceutical industry in Ghana is expanding rapidly, with companies producing medicines to meet local and regional demand. Ghana is one of the largest producers of pharmaceuticals in West Africa, and the demand for both branded and generic drugs is expected to increase, creating business opportunities for new pharmaceutical ventures.
• Telemedicine and digital health services: With the advancement of mobile technology and internet penetration, the adoption of telemedicine and digital health services is rapidly growing. Companies offering remote consultations, mobile health apps, and medical data management systems are addressing the gap in access to healthcare in rural areas.

Why invest in healthcare in Ghana?

• Government focus on healthcare: The Ghanaian government has made healthcare a top priority, with ongoing investments in hospitals, healthcare infrastructure, and universal health coverage schemes.
• Rising healthcare needs: With an expanding population and increasing life expectancy, the demand for healthcare services is expected to increase exponentially, providing opportunities for both local and international healthcare providers.
• Regulatory framework: Ghana has introduced a regulatory framework that is friendly to private sector investment in healthcare, making it an attractive destination for foreign and local investors.

8. Manufacturing & industrialization

The manufacturing sector in Ghana is on the rise, driven by the government’s industrialization agenda under the One District, One Factory program. The goal is to promote industrialization across the country. Creating opportunities in areas such as consumer goods, construction materials, and manufacturing for export.

As Ghana diversifies its economy away from reliance on natural resources, the manufacturing industry is becoming a cornerstone for long-term economic growth.

Key areas of growth

• Consumer goods manufacturing: With the growth of Ghana’s middle class, the demand for consumer goods like packaged foods, beverages, and household items is on the rise. Ghana’s young population, coupled with increasing disposable income, is a significant driver of this demand.
• Construction materials and cement production: As Ghana experiences rapid urbanization and infrastructure development, the demand for construction materials like cement, steel, and building blocks is growing. Companies involved in the production of these materials are well-positioned to benefit from the boom in construction and real estate development.
• Textile and garment manufacturing: The textile and garment industry is another area that has experienced growth. With government incentives to support local textile producers, Ghana is becoming a hub for textile production, particularly for the domestic and regional markets.

Why invest in manufacturing in Ghana?

• Industrialization initiatives: The government’s One District, One Factory program is incentivizing private sector investment in manufacturing across the country, with tax breaks, land allocation, and funding opportunities available.
• Growing local demand: The expanding middle class and increasing urbanization in Ghana are driving the demand for manufactured goods, both for local consumption and export.
• Strategic regional access: Ghana’s location within the Economic Community of West African States (ECOWAS) provides access to a large regional market for manufactured goods.

9. Financial services

Ghana’s financial services sector is evolving, with new technologies and services reshaping the landscape. As the country moves toward greater financial inclusion. Fintech and digital banking are playing a key role in providing services to underserved populations.

Traditional banks, mobile money services, and insurance companies are expanding their offerings to cater to the growing demand for financial services in both urban and rural areas.

Key areas of growth

• Digital banking: Traditional banks and fintech companies are increasingly offering digital services, such as mobile banking, digital wallets, and online lending platforms. Companies like MTN Mobile Money and Fido are leading the way in mobile banking innovation.
• Microfinance and insurance: There is a growing demand for microfinance institutions that provide access to capital for small-scale entrepreneurs, especially in rural areas. Additionally, micro-insurance products are gaining traction, providing affordable coverage for low-income individuals.
• Investment services: The growing middle class in Ghana is looking for investment opportunities beyond savings accounts, leading to an increase in demand for mutual funds, pension plans, and stock market investments.

Read Also: 100 Best Business Ideas in Ghana to Start This Year

Why invest in financial services in Ghana?

• Regulatory environment: The Bank of Ghana has introduced regulations that promote innovation in the financial sector, making it easier for fintech startups to operate and providing a stable environment for financial services.
• Financial inclusion: With the government’s efforts to promote financial inclusion through initiatives like National Financial Literacy Week, more Ghanaians are accessing formal financial services.
• Strong market potential: With a growing population, increasing disposable income, and a young workforce, Ghana’s financial services sector is set for expansion, presenting numerous investment opportunities.

10. Transport & logistics

Ghana’s transport and logistics sector is experiencing rapid growth, driven by increasing trade, infrastructure development, and growing demand for efficient transportation services. As Ghana becomes a regional trade hub, both local and international businesses are seeking to capitalize on the expanding logistics market.

Key areas of growth

• Road and rail transportation: With increased infrastructure investments, the demand for transport services, especially road and rail logistics, is growing. The expansion of the Western Railway Line and major road networks will improve domestic and cross-border trade.
• Air cargo and shipping: As Ghana strengthens its role as a regional trade hub, air cargo and shipping services are also seeing growth. The expansion of Kotoka International Airport and port facilities in Tema will boost the movement of goods in and out of the country.
• E-commerce logistics: As e-commerce continues to grow, there is an increasing need for efficient logistics services, including last-mile delivery and warehousing solutions. Companies offering these services are capitalizing on the rise of online shopping in Ghana.

Why invest in transport & logistics in Ghana?

• Strategic location: Ghana’s location on the Gulf of Guinea makes it a key gateway for trade to and from West Africa.
• Government investment: Significant infrastructure projects, such as new roads, airports, and port expansions, are creating opportunities for businesses in the logistics and transport sectors.
• Regional trade opportunities: With the advent of the African Continental Free Trade Area (AfCFTA), Ghana’s role as a trade hub is expected to increase, leading to a rise in demand for logistics services.

As we move forward, the key to success in Ghana will be understanding the trends shaping the economy and tapping into the sectors that promise the greatest growth. By focusing on these areas, businesses can position themselves at the forefront of Ghana’s economic transformation and be part of the exciting future ahead.