Background and Development

Industry Information

Quarrying and the extraction and preparation of various rock products and aggregates provide required materials that support both directly and indirectly the construction and mining industries. Both these industries whether construction and mining are fundamental and growing industries in the Ghanian market.

  • According to published data by the Ghana Investment Promotion Centre (GIPC) there has been a significant increase in the growth of the construction industry as represented by a cumulative foreign investment of USD 123.06 million in 2010 compared to USD 1,497.63 million in Ghana, indicating a more than 10 fold increase in investment.

    In August 2013, only 41 % of the road network in Ghana was considered in good condition. This prompted the government to improve the state of road infrastructure. In his 2014 budget statement, Finance Minister Seth Terkper announced that road and maritime transport remain priorities and that the 2014 budget allocates almost GHS 6 billion to capital expenditure, representing 17.7 % of total spending in the fiscal year. There are currently 11 major road projects underway in Ghana.

  • The GIPC reported that “Ghana is endowed with substantial mineral resources and has a well-established mining sector, which has grown considerably in recent years to represent an important pillar of the Ghanaian economy”. There are 13 large-scale mining companies and, over 300 registered small scale mining groups and 99 support service companies registered and operating in Ghana.

    The importance of the mining industry is further supported by the announcement of the Ghana Chamber of Mines that the mining industry accounts for about 7% of the country's Gross Domestic Product (GDP) and mineral exports make up 42% of total merchandise exports. Over the past decade, the mining sector has consistently been the highest gross foreign exchange earner.

    Furthermore and according to a KPMG report Ghana is the second-largest producer of gold in Africa, and accounted for 3.3% of world gold production in 2012, with an annual output of 89 tons.