Markets Market is a term used to describe concepts such as: * Market (economics), system in which parties engage in transactions according to supply and demand * Market economy *Marketplace, a physical marketplace or public market Geography *Märket, a ...

are essential to the Economy of Ghana

History of markets

Trading in the country begun when the first settlers arrived in the region. Like many countries in

Africa Africa is the world's second-largest and second-most populous continent, after Asia in both cases. At about 30.3 million km2 (11.7 million square miles) including adjacent islands, it covers 6% of Earth's total surface area ...

, the main method of

trading Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market. An early form of trade, barter, saw the direct exchan ...

was through the barter system. People used to exchange goods and services for commodities and services that was believed to measure up to what was being offered. As trade became more liberalized, people used to trade their goods and services for cowries known locally as "cedie". This later became the country's currency - the

cedi The cedi ( ) (currency sign: GH₵; currency code: GHS) is the unit of currency of Ghana. It is the fourth historical and only current legal tender in the Republic of Ghana. One cedi is divided into one hundred pesewas (Gp). After independenc ...

Supermarkets

The Accra Mall remains Ghana's prime

supermarket A supermarket is a self-service Retail#Types of outlets, shop offering a wide variety of food, Drink, beverages and Household goods, household products, organized into sections. This kind of store is larger and has a wider selection than earli ...

. The mall, which started operations in the 2008,The Accra mall one of the most modern shopping malls
. ''accramall.com''. sought to improve the Ghanaian shopping experience. It is located on the

Spintex Road Spintex Road is a suburb of Accra, the capital of Ghana. The name originally denotes the road which is parallel to the Tema Motorway The Tema Motorway officially known as the N1 Highway is a highway that links Tema to Accra—capital of Ghana. ...

adjacent the Tema

Motorway A controlled-access highway is a type of highway that has been designed for high-speed vehicular traffic, with all traffic flow—ingress and egress—regulated. Common English terms are freeway, motorway and expressway. Other similar terms i ...

. Other major supermarkets include Melcom.melcomgroup.com - melcolm
. ''melcomgroup.com''. The company was established in 1989 and its primary shop was opened in Accra Central by 1991. It has branches across the regions of the country including the single largest shop in Ghana; Melcom Plus in

Kaneshie Kaneshie is a suburb in the Accra Metropolitan district, a district of the Greater Accra Region of Ghana. The name was derived from a word in the Ga-Adangbe , that is "Kane Shie Shie", meaning "under the lamp" referring to its beginnings as a nig ...

, covering an area of over 90,000 square feet.

Street markets

There are sixteen

administrative regions Administrative division, administrative unit,Article 3(1). country subdivision, administrative region, subnational entity, constituent state, as well as many similar terms, are generic names for geographical areas into which a particular, ind ...

in Ghana with each having its own regional capital. Every region has at least one major street market where peculiar goods and services offered at minor street markets would be readily available and at a cheaper price. Some of the major street markets in the country are: * Kotokoraba Market in

Cape Coast Cape Coast is a city, fishing port, and the capital of Cape Coast Metropolitan District and Central Region of Ghana. It is one of the country's most historic cities, a World Heritage Site, home to the Cape Coast Castle, with the Gulf of Guinea ...

- Central region * Market Circle in

Takoradi Sekondi-Takoradi is a city in Ghana comprising the twin cities of Sekondi and Takoradi. It is the capital of Sekondi – Takoradi Metropolitan Assembly and the Western Region of Ghana. Sekondi-Takoradi is the region's largest city and an indus ...

- Western region * Kejetia in

Kumasi Kumasi (historically spelled Comassie or Coomassie, usually spelled Kumase in Twi) is a city in the Ashanti Region, and is among the largest metropolitan areas in Ghana. Kumasi is located in a rain forest region near Lake Bosomtwe, and is the ...

Ashanti region The Ashanti Region is located in southern part of Ghana and it is the third largest of 16 administrative regions, occupying a total land surface of or 10.2 percent of the total land area of Ghana. In terms of population, however, it is the mo ...

* Kantamanto in

Accra Accra (; tw, Nkran; dag, Ankara; gaa, Ga or ''Gaga'') is the capital and largest city of Ghana, located on the southern coast at the Gulf of Guinea, which is part of the Atlantic Ocean. As of 2021 census, the Accra Metropolitan District, , ...

- Greater Accra region *

Makola Market Makola Market is a renowned market place and shopping district in the centre of the city of Accra, the capital of Ghana. A wide array of products is sold in the markets and its surrounding streets, from car parts to land snails. Dominated by wom ...

- Greater Accra region *Kintampo market in Kintampo - Brong-Ahafo region * Tamale Central Market in

Tamale A tamale, in Spanish tamal, is a traditional Mesoamerican dish made of masa, a dough made from nixtamalized corn, which is steamed in a corn husk or banana leaf. The wrapping can either be discarded prior to eating or used as a plate. Tamale ...

- Northern region *Kaneshie market in

- Greater Accra region *

Bantama Bantama is suburb of Kumasi. Kumasi is the regional capital of the Ashanti Region of Ghana. Bantama is both a residential and commercial area in the Kumasi Metropolitan Assembly. It is in the centre of the regional capital. History Notable p ...

* Tafo in

References

{{DEFAULTSORT:Markets In Ghana Retail markets in Ghana Economy of Ghana