As the numbers reveal a nation rapidly rising from the ground up, Ghana's construction industry is not just building structures but is a formidable economic engine, evidenced by its impressive leap to contributing 5.8% to the national GDP in 2022 and executing projects worth GHS 45.6 billion in 2023.
Key Takeaways
- Ghana's construction industry contributed 5.8% to the national GDP in 2022, up from 4.9% in 2021.
- The total value of construction projects in Ghana reached GHS 45.6 billion in 2023.
- Residential construction segment accounted for 42% of total construction output in Ghana in 2022.
- Ghana construction employment reached 450,000 direct jobs in 2023.
- Average monthly wage for construction workers in Ghana was GHS 1,850 in 2023.
- 28% of Ghana's construction workforce are women as of 2023.
- Ghana's Year of Return project involved 5 major road infrastructure projects valued at USD 1.2 billion.
- Accra-Tema Motorway expansion completed 25km in 2023 phase.
- Kotoka International Airport terminal expansion added 15,000 sqm in 2023.
- Foreign Direct Investment in Ghana construction reached USD 1.4 billion in 2023.
- Chinese funding for Ghana infra projects totaled USD 2.8 billion 2023.
- Domestic bonds issued for construction by Ghana gov: GHS 10.2B in 2023.
- Ghana's Building Code 2020 compliance rate: 68% in urban areas 2023.
- Environmental Impact Assessments approved for 1,250 construction projects in 2023.
- Contractor registration with Ghana govt: 4,200 firms Class A in 2023.
Ghana's construction industry is booming with significant growth across all sectors.
Employment and Labor
- Ghana construction employment reached 450,000 direct jobs in 2023.
- Average monthly wage for construction workers in Ghana was GHS 1,850 in 2023.
- 28% of Ghana's construction workforce are women as of 2023.
- Skilled labor shortage in Ghana construction stands at 35% for engineers in 2023.
- Youth employment in Ghana construction rose to 42% of total workforce in 2023.
- Construction apprenticeships completed in Ghana totaled 12,500 in 2023.
- Labor productivity in Ghana construction improved 7.2% YoY in 2023.
- Migrant workers comprise 15% of Ghana's construction labor force in 2023.
- Safety training programs reached 65,000 construction workers in Ghana 2023.
- Unionized construction workers in Ghana numbered 98,000 in 2023.
- Average work hours for Ghana construction laborers: 48 hours/week in 2023.
- Construction unemployment rate in Ghana dropped to 4.2% in Q4 2023.
- Vocational training centers for construction in Ghana: 45 operational in 2023.
- Foreign expatriates in Ghana construction: 8,200 in 2023.
- Labor disputes in Ghana construction fell 22% to 45 cases in 2023.
- Construction foremen salaries averaged GHS 4,200/month in Ghana 2023.
- Part-time construction jobs in Ghana totaled 75,000 in 2023.
- Health insurance coverage for Ghana construction workers: 62% in 2023.
- Architect employment in Ghana construction grew 11% to 2,100 in 2023.
- Casual laborers in Ghana construction: 320,000 comprising 71% of workforce 2023.
- Pension enrollment among Ghana construction workers: 45% in 2023.
- Overtime pay compliance in Ghana construction: 78% in 2023 audits.
- Electrician jobs in Ghana construction demand up 25% in 2023.
- Turnover rate in Ghana construction firms: 18% annually in 2023.
- Plumber employment in Ghana construction: 18,500 in 2023.
- Ghana construction firms employed 1,250 managers in 2023.
- Training expenditure per construction worker in Ghana: GHS 450 in 2023.
- Night shift workers in Ghana construction: 12% of total in 2023.
Employment and Labor Interpretation
While Ghana's construction industry impressively employed 450,000 people with improving productivity and lower unemployment, its foundation is worryingly casualized, reliant on a 71% casual labor force working long hours with modest wages, highlighting a critical gap between robust growth and the security of the very workforce building it.
Infrastructure Projects
- Ghana's Year of Return project involved 5 major road infrastructure projects valued at USD 1.2 billion.
- Accra-Tema Motorway expansion completed 25km in 2023 phase.
- Kotoka International Airport terminal expansion added 15,000 sqm in 2023.
- Ghana's 1D1F initiative launched 20 industrial parks construction in 2023.
- Tamale Water Supply Project delivered 120km pipelines in 2023.
- Pokuase Interchange project in Ghana completed 80% by end 2023.
- Ghana Railway Master Plan Phase 1: 200km tracks laid by 2023.
- Ghana's District Road Improvement Programme built 1,500km roads in 2023.
- Akosombo Dam rehabilitation works started USD 150 million project 2023.
- Tema Port expansion added 2 new berths capacity 1.5M TEUs in 2023.
- Ghana Secondary Cities Support Program constructed 450km urban roads 2023.
- Bui Dam access roads 45km completed under hydropower project 2023.
- Takoradi Port oil rig berths construction finished phase 1 2023.
- Ghana's GETFund built 120 classroom blocks in 2023.
- Eastern Region bridges project: 35 new spans over 2km total 2023.
- Sunyani Airport runway extension to 2,200m completed 2023.
- Ghana Gas Processing Plant expansion USD 400M phase in 2023.
- National Cathedral project in Accra 70% complete structure 2023.
- Aboadze Thermal Plant 600MW construction started 2023.
- Cape Coast Stadium renovation USD 20M completed 2023.
- Ghana's fiber optic backbone extended 4,000km in 2023.
- Ho Municipal Hospital 200-bed construction finished 2023.
- Western Rail Line 30km operational from Dunkwa 2023.
- Techiman Market redevelopment 50,000sqm phase 1 2023.
- Ghana Irrigation Scheme Phase 2: 5,000 hectares developed 2023.
- Borteyman Sports Complex for African Games completed 2023.
- Kpone Water Treatment Plant doubled capacity to 60M gallons/day 2023.
Infrastructure Projects Interpretation
Ghana's 2023 construction landscape painted a striking portrait of ambition, where the rapid unspooling of fiber optic cables ran parallel to the patient laying of railway tracks, proving that national development is a marathon of synchronized sprints across every sector.
Investment and Funding
- Foreign Direct Investment in Ghana construction reached USD 1.4 billion in 2023.
- Chinese funding for Ghana infra projects totaled USD 2.8 billion 2023.
- Domestic bonds issued for construction by Ghana gov: GHS 10.2B in 2023.
- PPP investments in Ghana construction hit USD 850 million 2023.
- World Bank loans for Ghana roads: USD 500M disbursed 2023.
- Private equity in Ghana real estate construction: USD 320M 2023.
- AfDB funding for Ghana energy infra: USD 1.1B in 2023.
- Ghana Infrastructure Investment Fund allocated GHS 5.6B 2023.
- Venture capital for Ghana construction tech startups: USD 45M 2023.
- EU grants for sustainable construction in Ghana: EUR 120M 2023.
- Pension funds investment in Ghana construction bonds: GHS 3.4B 2023.
- Islamic sukuk bonds for Ghana infra: USD 200M issued 2023.
- Indian FDI in Ghana construction projects: USD 180M 2023.
- GETFund disbursements for construction: GHS 2.1B in 2023.
- Crowdfunding platforms raised USD 12M for Ghana housing 2023.
- Japan EXIM Bank loans for Ghana rail: USD 300M 2023.
- Local contractor financing from banks: GHS 8.9B in 2023.
- Green bonds for eco-construction in Ghana: USD 150M 2023.
- US Millennium Challenge Corp compact phase 2: USD 425M for infra 2023.
- Turkey contractors secured USD 650M contracts in Ghana 2023.
- Ghana gov budget allocation to construction: 12.4% or GHS 28B in 2023.
- Impact investment funds in Ghana social housing: USD 75M 2023.
- Saudi Fund loans for Ghana dams: USD 220M disbursed 2023.
- Blockchain financing platforms for Ghana projects: USD 8M 2023.
- UK Export Finance guarantees for Ghana construction: GBP 100M 2023.
- Local content fund for construction: GHS 1.2B invested 2023.
- Construction equipment leasing investments: USD 95M in Ghana 2023.
- Diaspora remittances into Ghana construction: USD 250M 2023.
- ESG-focused investments in Ghana infra: USD 180M 2023.
Investment and Funding Interpretation
With a financial toolbox ranging from the steady wrench of local bonds and bank loans to the high-powered, international cranes of Chinese funding and Western investment, Ghana’s construction site in 2023 was a masterclass in diversified, if complex, fundraising.
Market Size and Growth
- Ghana's construction industry contributed 5.8% to the national GDP in 2022, up from 4.9% in 2021.
- The total value of construction projects in Ghana reached GHS 45.6 billion in 2023.
- Residential construction segment accounted for 42% of total construction output in Ghana in 2022.
- Commercial construction grew by 15.2% year-on-year in Ghana during Q4 2023.
- Infrastructure construction in Ghana expanded at 8.7% CAGR from 2018-2023.
- Ghana's construction market is forecasted to grow at 6.9% annually until 2027.
- Total construction contracts awarded in Ghana in 2023 totaled USD 3.1 billion.
- The industrial construction sector in Ghana saw a 10.4% increase in value in 2022.
- Ghana construction output index rose to 125.6 points in December 2023.
- Private sector investment in Ghana construction reached GHS 22.4 billion in 2022.
- Ghana's construction industry added 1.2 million square meters of floor space in 2023.
- Cement consumption in Ghana's construction hit 8.2 million tonnes in 2023.
- Steel usage in Ghana construction projects increased by 14% to 1.1 million tonnes in 2022.
- Ghana's real estate construction market valued at USD 1.8 billion in 2023.
- Construction permits issued in Ghana rose 22% to 12,450 in 2023.
- Ghana construction sector's value added grew 11.3% in 2023.
- Energy construction projects in Ghana worth USD 2.5 billion underway in 2024.
- Ghana's construction inflation rate was 18.5% in 2023.
- Total floor area under construction in Accra reached 450,000 sqm in 2023.
- Ghana construction market projected to hit USD 7.4 billion by 2028.
- Non-residential construction in Ghana grew 9.8% YoY in 2023.
- Ghana's construction exports services valued at USD 120 million in 2022.
- Public construction expenditure in Ghana was GHS 15.7 billion in 2023 budget.
- Ghana construction productivity index stood at 112.4 in 2023.
- Mixed-use developments in Ghana totaled 25 projects worth USD 900 million in 2023.
- Ghana's construction sector recovery post-COVID reached 95% of pre-pandemic levels by 2023.
- Affordable housing construction in Ghana added 15,000 units in 2023.
- High-rise buildings in Ghana increased by 18% to 45 new starts in 2023.
- Ghana construction market share of civil engineering was 35% in 2023.
- Digital construction tech adoption grew market by 12% in Ghana 2023.
Market Size and Growth Interpretation
Ghana’s construction industry isn’t just building houses and roads; it’s literally and figuratively cementing its role as a powerhouse of economic growth, with private money eagerly pouring into skyscrapers and shopping malls while infrastructure steadily expands, though it’s doing so while navigating the steep climb of nearly 20% construction inflation.
Regulatory and Policy Framework
- Ghana's Building Code 2020 compliance rate: 68% in urban areas 2023.
- Environmental Impact Assessments approved for 1,250 construction projects in 2023.
- Contractor registration with Ghana govt: 4,200 firms Class A in 2023.
- Local content policy enforcement: 75% local materials in public projects 2023.
- Tax incentives for green buildings in Ghana: 15% rebate introduced 2023.
- Public Procurement Act amendments favored local contractors 20% more in 2023.
- Occupational Health and Safety inspections: 2,800 sites in Ghana 2023.
- Zoning law violations penalized: GHS 45M fines collected 2023.
- National Building Regulation LI 1720 enforcement: 85% compliance urban 2023.
- Import duties waiver on construction machinery: 10% reduction 2023 policy.
- Anti-corruption audits in construction awards: 150 projects reviewed 2023.
- Sustainable procurement policy adoption: 60% public construction 2023.
- Disability access mandates in new builds: 100% compliance required 2023.
- Fire safety certification rate for buildings: 72% in Accra 2023.
- Land use planning approvals: 950 for construction sites 2023.
- VAT exemptions on construction services extended to 2025 policy.
- Digital permitting system rollout: 40% construction permits online 2023.
- Labor Act compliance fines: GHS 12M in construction sector 2023.
- Energy efficiency standards for buildings enforced since 2023 policy.
- Public-Private Partnership Act 2020: 25 new agreements signed 2023.
- Heritage site protection clauses in 120 construction contracts 2023.
- Apprenticeship levy collection for construction: GHS 890M 2023.
- Flood risk assessments mandatory for 500 coastal projects 2023.
- Contractor pre-qualification criteria tightened: 30% failure rate 2023.
- BIM mandatory for gov projects over GHS 50M from 2023.
- Waste management regulations: 90% recycling target for sites 2023.
- Insurance bonding requirement: 100% for public works 2023.
- Climate resilience standards integrated into 200 infra policies 2023.
Regulatory and Policy Framework Interpretation
Ghana's construction industry in 2023 resembled a determined student who's finally started doing the homework, acing some subjects like local content and digital permits, but still occasionally skipping the building code and fire safety classes where the teacher is checking.
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