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BMI View: Ghana's construction industry will record positive growth over our 10-year forecast of
2016-2025 as the narrowing budget deficit enables the government to direct significant expenditure into key
infrastructure, notably transport and energy. The inadequate power supply and allegations of government
corruption remain chief deterrents to operating in the market.
Forecast & Industry Developments
? We continue to forecast 2.1% real growth in Ghana's construction industry over 2016, as an improved
macroeconomic environment supports investment into infrastructure development.
? Over our full forecast period between 2016 and 2025 we project annual average growth of 6.2% in real
terms. The main drivers of growth will be investment into port infrastructure, as Ghana works to sustain
its strong transport logistics profile; energy infrastructure to tackle the power deficit; and developments in
commercial construction, as demand grows for formal retail space on the back of increased essentials
? Renewable energy projects - as a short-term diversification strategy to improve the overall power supply -
is receiving major support from the government, which is eager to leverage private investment into the
? The constrained power supply continues to a major hindrance for construction companies operating in the
country, which face supply chain disruptions and increased business costs.