Ghana’s Retail Boom Fuels Growth in Printing Industry
Accra, Ghana – Ghana’s burgeoning retail sector is driving significant investment and innovation in the country’s visual communications and printing industry, according to industry data and recent company announcements. The expansion reflects a broader trend of economic diversification and increased demand for sophisticated branding and advertising solutions.
Ghana’s retail market was valued at approximately $32 billion in 2023 and is projected to reach $54 billion by 2031, a growth trajectory fueled by rising consumer spending and the development of commercial infrastructure in major cities, according to recent estimates. This growth is directly impacting the printing sector, particularly in large format printing used for outdoor advertising and in-store displays.
Outdoor advertising currently generates an estimated $60 million annually in Ghana, accounting for over 20 percent of total advertising expenditure. As competition intensifies among brands vying for visibility in shopping centers, storefronts, and public spaces, print service providers are upgrading their capabilities to meet evolving client expectations.
Chroma Digital Solutions, a Ghanaian print provider, recently invested in a Canon Colorado M5W large format printer to bolster its operations. Kwame Owusu-Kwarteng, Operations Manager at Chroma Digital Solutions, explained the investment was a response to client demand for “speed, consistency and the ability to handle a wide range of print applications.” The new technology’s UVgel printing capability is designed to withstand the challenging West African climate, with its high temperatures and prolonged sunlight. The system also supports specialized print products through features like white ink printing and combined matte and gloss finishes.
Canon Central & North Africa reports increasing demand for more sophisticated printing services as businesses prioritize brand visibility and customer experience. Tushar Vashnavi, Business Unit Director at Canon, noted that Ghana is “one of West Africa’s most dynamic visual communications markets,” with printing companies increasingly adopting technology to expand their service offerings. Canon also emphasized the importance of reliable local technical support for companies adopting new technologies in emerging markets.
Industry observers anticipate continued growth in demand for high-quality visual communication as Ghana’s economy diversifies and sectors like real estate, events, and corporate branding expand. The GCB Bank, in a 2023 sector report, noted a negative outlook for the consumer and retail sector due to inflation and economic factors, but the projected growth in the retail market suggests a resilient and evolving landscape.