Ghana has hundreds of traditional markets spread across its 16 administrative regions and 261 districts.
These markets serve as important centres for accessing a wide range of goods and services, often at relatively lower prices.
Major traditional markets across the country include Kotokoraba Market in Cape Coast, Market Circle in Takoradi, Agbogbloshie, Kantamanto, Kaneshie, and Makola Markets in Accra, Ho Central Market in Ho, Kintampo Market in Kintampo, Tamale Central Market in Tamale, and Kejetia, Bantama, and Tafo Markets in Kumasi.
Traditional markets are vibrant, open-air economic hubs where a significant proportion of local retail trade, particularly in food and agricultural produce, takes place.
Retail outlets within these markets generally consist of small stalls clustered together under a single roof or in an open-air venue.
These markets play a significant role in Ghana’s economy.
Historical estimates cited by the World Bank and the United States Department of Agriculture’s Foreign Agricultural Service place the average annual turnover of traditional markets in Ghana at approximately US$4 million per location.
They provide livelihoods for numerous traders, porters, drivers and other transport operators, while creating market opportunities for farmers, artisans and other small-scale businesses.
They serve as important links in the distribution of food and other goods, connecting producers and wholesalers with retailers and consumers across the country.
They also contribute to women’s livelihoods and economic empowerment.
The economic significance of traditional markets is also reflected in their share of Ghana’s retail sector.
Available data indicate that traditional open-air markets account for approximately 60 per cent of total retail sales, compared with 36 per cent for convenience stores and small grocery stores and 4 per cent for supermarkets.
They also account for approximately 20 per cent of retail sales of imported high-value food products. In addition, more than 90 per cent of local staple foodstuffs, including fresh fruits and vegetables, meat and frozen fish, whether imported or locally produced, are sold to consumers through traditional markets.
They also account for over 85 per cent of Fast-Moving Consumer Goods (FMCG) sales.
An estimated 85 per cent of major importers’ and distributors’ business is channelled through open markets.
About 80 per cent of wholesalers, sub-wholesalers, and super-retailers also operate in traditional markets, which serve as a major supply source for convenience stores across the country.
Despite the growth of shopping malls and supermarkets, an estimated 95 per cent of Ghanaians prefer to shop in traditional open markets, mainly because of cost and accessibility.
Meanwhile, hotels, restaurants and industries also obtain much of their food supply from these markets.
Many of these markets have developed organically over several decades without the benefit of modern spatial planning and adequate facilities to support traders and consumers.
As Ghana’s population and commercial activity have expanded, the pressure on existing traditional markets has also increased considerably.
They have therefore faced several longstanding challenges.
These include poor sanitation resulting from inadequate toilet facilities, ineffective waste management and poor drainage; congestion and limited trading space; inadequate and deteriorating infrastructure; recurring fire outbreaks; and food-safety and hygiene concerns.
These challenges affect the safety, cleanliness and overall conditions under which traders and consumers conduct their activities within these markets.
The 24-Hour Economy Markets Initiative
Given the significant role of traditional markets in Ghana and the challenges associated with their infrastructure and operations, His Excellency President John Dramani Mahama introduced the 24-Hour Economy Markets Initiative to provide decent, modern trading centres across the country.
Spearheaded by the Ministry of Local Government, Chieftaincy and Religious Affairs (MLGCRA), in collaboration with Metropolitan, Municipal and District Assemblies (MMDAs), the initiative represents a deliberate government effort to rehabilitate and modernise the country’s informal traditional markets.
Under the initiative, traditional markets across Ghana’s 261 districts will be transformed into modern, multipurpose markets that will operate around the clock, providing an organised environment for extended trading.
It also aims to stimulate economic activity, increase productivity, create jobs and provide opportunities for wealth creation within beneficiary communities.
Resources for implementation will be channelled to the MMDAs to promote local ownership and ensure market development reflects local conditions.
The markets are envisioned as integrated commercial centres, combining trading spaces with essential facilities and supporting services. Planned facilities include modern shops and stores, warehouses and cold-storage facilities, banking and digital-payment services, sanitation facilities, restaurants and food areas, crèches, clinics and other health facilities, and police and fire-service posts.
The objective is to ensure these important centres of economic activity can meet the needs of a modern economy while remaining accessible to the traders and communities that depend on them.
Enhanced Market Infrastructure and Improved Economic Opportunities
The 24-Hour Economy Markets are expected to support economic activity by providing spaces where traders, farmers, producers and consumers can conduct business in more organised environments and for extended hours.
By operating around the clock, the markets are intended to expand trading opportunities beyond conventional daytime hours and stimulate economic activity within local communities.
The modernisation of the markets is also expected to provide the infrastructure needed to transform overcrowded and poorly organised trading spaces into well-planned areas with improved sanitation, waste management, fire-safety systems and other essential facilities.
The provision of warehouses, cold-storage facilities and other storage infrastructure is also expected to reduce post-harvest losses, particularly for farmers and businesses dealing in perishable agricultural products.
This could improve the movement and preservation of agricultural produce and reduce inefficiencies within the agricultural supply chain.
The initiative is also expected to create jobs, particularly for women and young people, while supporting increased economic activity in local communities.
Increased trading activities are further expected to improve revenue generation for MMDAs.
The construction and equipping of the markets, together with the development of related infrastructure, will provide opportunities for competent Ghanaian businesses, contractors and other eligible investors to participate in their development.
The construction phase will also generate employment for skilled and unskilled workers, with much of the labour likely to come from the districts and surrounding communities where the markets are located, creating additional economic opportunities at the local level.
Formalisation and Support for Informal Traders
Market modernisation also presents an opportunity to progressively formalise and support businesses operating within Ghana’s traditional markets. Digital registration of traders and their businesses can facilitate their transition into the formal economy, improve business records and support compliance with applicable tax requirements.
Better records would also position traders to access loans and working capital from banks and non-bank financial institutions.
Addressing the Participation of Non-Ghanaians in Ghana’s Informal Retail Sector
Perhaps one of the most significant benefits of the 24 Hour Economy Markets is that it offers a bold solution to decades-old concerns raised by the Ghana Union of Traders Association (GUTA) and other market and trade associations about foreign nationals participating in areas of the retail sector reserved for Ghanaians.
Ghana’s investment laws, particularly the Ghana Investment Promotion Centre Act, 2013 (Act 865) and the Ghana Investment Promotion Authority Act, 2026 (Act 1173), which replaced Act 865, have consistently reserved certain sectors of the economy for Ghanaians.
The reserved activities include, among others, the sale of goods or provision of services in a market, petty trading, hawking or the sale of goods in a stall anywhere in the country.
Despite these restrictions, non-Ghanaians reportedly continue to operate in some areas of the retail sector reserved for Ghanaians, leading to recurrent tensions between Ghanaian and foreign traders.
Recently, the Ghana Investment Promotion Authority (GIPA) and the Ministry of Trade, Agribusiness and Industry engaged GUTA and other foreign trade associations to address this longstanding issue.
The engagement resulted in several measures to protect activities reserved for Ghanaians and strengthen compliance with the law.
These include targeted action against fronting, improved verification and tracking of businesses, strengthened record-keeping by MMDAs, and enhanced mechanisms for monitoring and reporting suspected violations.
The 24-Hour Economy Markets Initiative could help implement these measures effectively.
With the MLGCRA overseeing the initiative through the MMDAs, the allocation, registration, and use of shops and other trading spaces would be managed and monitored more effectively.
Digitalising stalls and trader records would be particularly important in this regard.
A transparent system showing who has been allocated a shop or stall, the business registered to operate from it and who is authorised to use it would make it easier to identify irregular arrangements, including suspected cases of fronting.
This would improve transparency and traceability in the use of trading spaces and strengthen the enforcement of restrictions on retail activities reserved for Ghanaians.
In this way, modernising traditional markets would not only improve their physical infrastructure but also provide a more structured framework for monitoring compliance with Ghana’s investment laws.
Conclusion
Traditional markets remain an essential part of Ghana’s economy, supporting livelihoods, local businesses and the distribution of goods across the country.
The 24-Hour Economy Markets Initiative presents an opportunity to modernise these markets, improve their safety and organisation, and strengthen linkages among producers, distributors, wholesalers and retailers.
If effectively implemented, the initiative could create a more conducive environment for traders and consumers, enhance revenue mobilisation at the local government level, contribute to a more efficient domestic trading system, and support ongoing efforts to address fronting and the participation of non-Ghanaians in retail activities reserved for Ghanaians.
Achieving this transformation, however, will require the active participation of all stakeholders interested in modernising Ghana’s markets. This includes local communities, traders, businesses and trade associations.
GUTA and other market and trade associations are encouraged to support the initiative and be actively involved in its implementation.
Their participation will help ensure that market development responds to the practical needs of Ghanaian traders and provides the infrastructure needed for their businesses to thrive.
Their continued involvement will also help ensure transparent allocation of trading spaces and address fronting and the unauthorised participation of foreign nationals in these markets.
By Mr. Simon Madjie, CEO, Ghana Investment Promotion Authority
