GHANA INFORMATION AND COMMUNICATION TECHNOLOGY MARKET

Major Ghana Information and Communication Technology Market Drivers

The Ghana information and communication technology market is projected to grow due to a growing penetration of the internet, an increase in adoption of 5G devices and cloud computing, integration of automation in household appliances, and advancement in e-commerce platforms. The ICT sector in Ghana has attracted popular U.S. tech organizations including Parallel Wireless, American Tower Corporation, IBM, Google, Cisco, Microsoft, and many more. Their presence has bolstered the country’s ICT insight, playing an important role in its development and expansion. For instance, Google made a significant move by establishing its inaugural Artificial Intelligence laboratory in Africa in Ghana back in 2019. Likewise, TechGulf is making an effective program, not only through the advancement of data centers but also by spearheading one of the different successful tech startup hubs across Ghana. 

Currently, Ghana boasts 4 registered mobile operators including Glo Ghana, Airtel Tigo, Vodafone, and MTN, headquartered across South Africa, registers the market with over 17 million subscribers and holds a 57% market share, while Vodafone commands a 23% market revenue share. As per the National Communications Authority, in 2021, there were an astounding 41.4 million mobile voice registrations, indicating a remarkable 132% penetration rate. Ghana intends to roll out 5G without the traditional spectrum auctioning method. Instead, it will introduce a shared infrastructure company to facilitate widespread deployment of both 5G as well as 4G services. The aim is to reach 80% of the population by collaborating with network operators and private investors, aligning with Ghana’s ambition to extend digital services to rural regions. In addition, the government has sanctioned the deployment of two innovative submarine cables to improve internet affordability and accessibility. 

Furthermore, the mobile money platform regulated by the Bank of Ghana has witnessed remarkable growth in Ghana. This advanced payment service, facilitated through mobile devices, has revolutionized the way customers conduct transactions. Ghana fosters the 2nd maximum data penetration rate and the fastest-rising mobile money market across sub-Saharan Africa, thereby substantially improving financial inclusion. Among the four key telecommunications companies across Ghana, it is projected that MTN holds the largest share of Ghana information and communication technology market. Fostering more than 30 million recorded mobile money accounts and transactions exceeding USD 36 billion, the sector has emerged as a fundamental pillar of the financial ecosystem of the country.

Furthermore, the government is aiming its efforts to expedite the integration of important digital initiatives, comprising the National ID, digitization of land records, and digital address systems, all focused on enhancing efficiency and service delivery in the country. In addition to this, there are constant efforts to digitize fiscal revenue collection, encourage a cashless society, and enhance the superiority of education delivery at an online platform. Prioritizing investments in the national fiber network backbone is also important, intending to expand and improve internet connectivity in Ghana. The dedication of government is committed to encouraging digital literacy empowering tech entrepreneurs in Ghana and facilitating the export of IT-enabled services, including BPO. 

Segments covered in the Report:

The Ghana Information and Communication Technology Market has been segmented on the basis of Technologies, Company sizes and Industry Vertical. Based on the Technologies, the market is segmented into Hardware, Software, IT Services, Telecommunication Services. Based on the Company sizes, the market is segmented into Enterprise, SMB. Based on the Industry Vertical, the market is segmented into BFSI, IT and Telecom, Government, Retail and E-commerce, Manufacturing, Energy and Utilities, Other.

Market Segmentation

Ghana Information and Communication Technology Market by Technologies

• • Hardware
  • Software
  • IT Services
  • Telecommunication Services

Ghana Information and Communication Technology Market by Company sizes

• • Enterprise 
  • SMB

Ghana Information and Communication Technology Market by Industry Vertical

• • BFSI
  • IT and Telecom
  • Government
  • Retail and E-commerce
  • Manufacturing
  • Energy and Utilities
  • Other