The ICT in Ghana: Overview and Companies Data

Ghana’s ICT sector was worth an estimated $5.48 billion in 2017, constituting 41.7% growth from 2016. The telecommunications segment makes up the vast majority of this at around $2.9 billion. Other important contributors are broadcasting, data center services, cloud, IT, and BPO.

Ghana’s combination of relatively stable governance, strategic location, and young and innovative population has made it an attractive destination for multinational companies. Several notable firms such as Google, Microsoft, Bolt or Bloomberg have offices in Accra, and some have based their entire African operations from these offices.

Why you should work with Ghanese IT companies

Digital service providers in the cloud and BPO markets are largely involved in the provision, rather than the development, of services, whilst Ghanan firms are more prevalent in the fintech and eCommerce markets. The physical technology required for the delivery of digital services is typically imported, and it is not clear that Ghana could produce these products more efficiently. 

A key strength in the digital services market is the acceptance of mobile services. Any consumer solution entering the market would have to be mobile-compatible. Mobile healthcare services are expected to grow particularly rapidly as the sophistication of these offerings increases.

What to pay attention to when working with Ghanese IT companies and web agencies

On the consumer side, it is vital that any proposed digital service offering be mobile-compatible due to the prevalence of mobile usage in Ghana. Furthermore, smartphone penetration in the region is steadily increasing, thus increasing the sophistication of viable digital service offerings. 

Given the acceptance of fintech by the Ghanese population, a possible route to entry in the consumer market is to acquire one of the many smaller fintech firms in the industry. This would resolve some of the primary barriers to entry, most specifically bureaucratic red tape and a lack of local knowledge. 

On the corporate side, the most effective route to entry is likely through partnerships with smaller local resellers. This model is already popular in the Ghanan market. A key differentiating feature here will be how well the service adapted to the Ghanan market.

How reliable are Ghanese IT companies?

Considered to be one of the biggest African IT hubs, Ghanese web agencies and IT companies compete only with Ethiopian ones in terms of reliability. As many foreign companies have already invested and thus developed the local IT infrastructure and industry overall, Ghanan IT companies find it easier than other neighboring countries to enter the global market and provide their services for accessible prices. 

How does the Ghanese IT industry relate to the neighboring countries?

Ghana is actively trying to establish itself as a key ICT hub in the East African region. The country appears to be making good progress in this regard, helped by having a strong connectivity infrastructure and a young, innovative population. Despite this, the country currently faces considerable political uncertainty, and issues surrounding the transparency of tenders remains a major barrier to growth.

Although Ghana’s score for the metric measuring the economic impact of ICT is not high in absolute terms, it ranks 78th in the world. This supports the conjecture that businesses, government, and consumers will be receptive to new technologies as ICT has already had a substantial impact on the Ghanan economy. 

How IT Industry in Ghana will evolve in 2022?

In the last years, Ghana has developed a strong presence of IT companies in the region and is also known as one of the most progressive countries in West Africa. Free media and a democratic regime have definitely contributed to the Ghanese tech development, and now the number of startups is growing drastically on the background of a free market and multiple venture investors coming in. 2022 comes with good news for Ghana IT industry - investments and government facilities have increased the number of IT companies which in return will provide a solid economic background for further development.