- Former Deputy Trade Minister Robert Ahomka-Lindsay revealed that Ghana’s economic crisis has dipped luxury goods sector revenue, with people buying essentials like clothes and food instead of luxury items.
- Apparel growth increased by 3.7%, while luxury goods decreased. Food and home and laundry care also experienced growth. The trend is expected to continue between 2023 and 2027.
- Speaking at the Citi Business Festival forum, He also emphasized that community outlets account for 36% of retail sales in Ghana, whereas modern trade only accounts for 4%.
Source:
citibusinessnews.com
