Despite the economic challenges besetting Ghana, resulting in significant hardships across the country, certain enterprises have nonetheless achieved success, witnessing unprecedented levels of patronage.
These businesses, though not falling under the formal sector, are thriving, yielding considerable benefits for those involved.
The swell in customer support for these businesses, culminating in substantial profit margins, is due to a variety of factors.
The media spotlight five such businesses, exploring the reasons for their newfound prosperity.
Kosua ne Meko (Egg with Pepper)
Unquestionably the burgeoning favourite, boiled eggs served with a pepper sauce have surfaced as the most cherished delicacy among Ghanaians lately.
Rarely can one traverse 200 metres without spotting a vendor peddling this celebrated dish of egg and pepper sauce.
Its popularity has soared to such heights that it attracted the New York Times’ interest, prompting a feature dedicated solely to it.
The escalating appeal and demand for “kosua ne meko” are predominantly due to its mouth-watering flavour. It’s so irresistibly tantalising that one serving might leave you yearning for more.
Prices currently fluctuate, ranging from GHC2.50 to GHC4, subject to your location.
Fresh Coconut
Amid the expanding awareness of the health benefits tied to coconuts, their popularity has ascended steadily. Coconuts are lauded for their beneficial effects on weight management, cholesterol, and sugar levels, resulting in heightened patronage.
This upsurge in the demand for fresh coconuts has fostered a flourishing market, especially in metropolitan areas.
Courier Businesses
A derivative of the Covid-19 economy, the courier sector is undergoing swift expansion. This surge is fuelled by the growing tendency of consumers to opt for home deliveries of their acquisitions, sidestepping the inconvenience of physical travel for shopping.
Moreover, strenuous economic circumstances have compelled numerous formal sector workers to seek remote and supplementary sources of income. Due to their packed schedules, they frequently cannot manage personal deliveries to their clientele, precipitating a dependence on delivery services. This pattern has catalysed a booming market for the courier industry.
Social Media Influencing/Content Creation
In the current digital realm, virtually everyone has evolved into a content creator. The array of benefits offered by social media firms, encompassing financial incentives, fame, enhancement of personal reputation, and self-marketing, has spurred a massive wave of individuals to initiate their journeys in content creation.
They produce content over a spectrum of social media outlets, aiming to secure audience engagement, which subsequently may translate into lucrative brand influencer contracts and remunerations from the platforms themselves.
Currency Traders
With a mounting tally of forex bureaus ceasing operations, the informal currency exchange enterprise is prospering.
The intensifying allure of international travel has spurred a need for currency exchange services. Rather than choosing established banks and authorised forex bureaus, numerous individuals now prefer informal, unlicensed currency exchangers, believing their rates present superior value compared to the formal sector.