With a population of 31 million, Ghana is believed to be one of the most populous countries in Africa. However, after being affected by the pandemic in 2020, the economy of Ghana reportedly contracted in the second and third quarters of 2020 by 3.2% and 1.1%, respectively, which unfortunately led to recession for the first time in 38 years.
According to the business tracker survey, the report states that around 25.7% of the total workforce worked on low wages, out of which about 42,000 employees had to quit during the country's partial lockdown. Even after things were in control, there was a high level of uncertainty regarding sales and unemployment that can still be witnessed in specific scenarios.
Overview of Ghana
Total Population- 31.28 million
GDP- 2,373 billion USD as per 2021
As per the reports, moderate growth of 1.1% was witnessed in 2020, all because of the first quarter of 2020 that struck 4.9% of total growth; still, the market witnessed a sharp fall during the pandemic. Luckily, Ghana's economy showed some green flags in the second half of 2020, followed by some remarkable recoveries in later months of the year.
Market Size of Ghana
The market size and the needs and demands of people in Ghana are enough to provide employment opportunities to all its working-age people. The Global Ghana Retail Industry Market is expected to witness growth at a CAGR of 14.6% by 2027. This is a good sign for people looking for sustainable jobs. Though the country has faced a noticeable fall in the market, the economy will still rise and shine
One platform to grow your global team
Hire and pay talent globally, theTalk to an Expert
hassle-free way with
A Brief Idea About Industries
The primary industries that are also one of the main reasons for giving Ghana the highest GDP in West Africa are manufacturing industries, automation, ship construction, and exportation of resources like hydrocarbons.
- Ghana is the largest producer of manganese in the world, followed by gold.
- The Ghanaian government is working towards the manufacturing and industrial development that will drive growth contributing to total GDP.
- The Ghanaian authorities have taken noticeable steps to improve business confidence and to strengthen local industries.
- The average internet speed in Ghana is 1.46 Mbit/s. The average download speed in Ghana is 13.07 Mbps, and the average upload speed is 9.02Mbps.
- The government is on its toes to increase employment opportunities for the people who are currently seeking employment.
Cost of Living
Various factors are taken into consideration while estimating the total cost of living in the country. Factors such as which city you are residing in, total revenue, taxation policies, transportation, industry dominance, and much more severely affect living costs. To give you an insight into living costs in Ghana, we've prepared a table for you!
|Area of expenses
|Food and Beverages
Cost of Renting
Accommodation in Ghana can be much more expensive than you must have imagined. Also, it depends on the city you are choosing to live in. According to the 2019 Mercer Cost of Living Survey, Ghana's capital city, Accra, is reportedly the 63rd most expensive city out of 209 cities. However, due to the rise in demand and shortage of supply, the prices are relatively higher there.
Biggest Industries in Ghana That Are Expected to Hire:
Here is the list of the biggest industries in Ghana that are expected to hire in 2021:
Ghana has enormous reserves for manganese and gold in the continent, contributing over 5% of the state's GDP. Along with gold and manganese, there are over 23 firms that produce bauxite and diamonds too in bulk.
Ghana is a significant energy producer from all renewable energy resources such as hydropower, solar panels, and fossil fuels. In 2012, it was recorded that the country generated almost 50% of power from renewable energy.
Ghana attracts over 500000 tourists that contributes to almost 5% of Ghana's GDP. According to the World Economic Forum, Ghana ranked at number 108 in the list of favorite tourism places.
The largest sector or 50% of Ghana's population is engaged in Agriculture. Agriculture contributes to a large part of the state's GDP.
With the growth of the telecommunications industry, the sector has drastically evolved over the period, leading to more employment opportunities for working-age people.
Top Skills in Ghana
Have you ever wondered what skills will take you to the top in Ghana? If not, then here it is. There are plenty of job opportunities in Ghana; all you need is to develop some skills and excel in them. Here, we have mentioned a list of the top 10 skills that will boost your professional career.
Data science, analytics, and manipulation
- Digital marketing
- Graphic design and photography
- Persuasion, selling, and marketing
- Team working and people management
- Problem-solving skills
- Video production and editing
Ghana's capital Accra is home to technology that can establish itself as the leading technology center in the world. The city feeds over 4 million people and offers exciting opportunities in the field of:
- Digital marketing
- Production and editing
Kumasi, another largest metropolitan city of Ghana that offers an uncountable number of employment opportunities for its people like IT services, doctors, transportation services, real estate services, bank managers, and much more. The city offers all sorts of jobs that one wishes to try their hand on.
Takoradi, on the other hand, is a place for commercial and industrial growth. Along with this, most people will be busy practicing fishing as it's their fundamental job. The major industries are timber, cocoa processing, plywood, and shipbuilding.
Highest Paying Jobs in Ghana
To know what some of Ghana’s highest-paying jobs are, here is the list:
If you want to make money in the least time possible, try your hands as a shipping supervisor. Your duty will include keeping an eye on the ships when they leave the ports and entering in there. Though the demand for ship supervisors has faced a recent fall due to the pandemic, we're living in. Otherwise, the jobs offer great pay.
Account managers are responsible for the well-being of customers. Therefore, a company without an account manager makes no sense. Therefore, it's a high-demanding job in Ghana. Managers are paid almost an amount of 12,500 USD annually.
Project managers are the ones who creatively think about ideas and bring them to life. This has been one of the biggest paying jobs in Ghana Reason, being they plan working ethics to maintain the company's growth. A Ghanaian project manager is generally paid around 12,000 USD annually.
When you hire someone, the cost of hiring is an essential factor that can affect your decision drastically. There are various factors such as the cost of living, the city you are residing in, and the total expenditure of that particular city. We have curated a list of things that can affect the cost of hiring:
- Recruitment cost
- Value involved in overall training
- The cost from taking interviews to onboarding
- Opportunity cost
- Third-party recruiter fees, if any
||Average Gross Monthly Salary By Survey (USD)
|Arts and Culture
Employment Laws in Ghana
- Generating a contract of employment in writing for workers who have been employed for more than six months is a necessity in Ghana. This written statement should include all the necessary information about the worker, such as the name, employment date, payments, work hours, and so on. This helps in bringing transparency between the two. Along with the information, one should mention the terms and conditions in the contract.
- The employee has the right to refuse dangerous work if he/she is not comfortable while performing it.
- Section 44 allows a maximum of 8 hours of work per day and 40 hours a week.
- Should clear the payment before the end of the month.
How Can Skuad Help You Hire in Ghana?
Skuad is your local HR who comes as a solution to all your hiring problems. Hiring’s Ghana can be a tedious task as it involves deep knowledge of various factors such as laws, cost of living, trends, living cost, and much more. With our help, you will concentrate on more important things rather than thinking about hiring people. If you want to hire the new emerging talents from Ghana, get in touch with Skuad today!
Contact Skuad for the best solutions!