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[January 22, 2014]
Ghana Food & Drink Report Q1 2014 - New Market Research Report [ClickPress (UK)]
(ClickPress (UK) Via Acquire Media NewsEdge) [ClickPress, Wed Jan 22 2014] We maintain our view that Ghana will be a regional and global outperformer over the coming years thanks to swift expansion in several industries retail. We forecast real GDP growth of 6.4% in 2014 and 7.2% in 2015, following an estimated 7.0% in 2013. We expect strong growth in aggregate private consumption, forecasting an increase of 7.5% in real terms in 2013 and 6.0% in 2014, followed by an annual average of 6.0% over 2014-2017 which in turn has positive implications for consumer spending on food and drink.
Headline Industry Data * 2013 per capita food consumption (local currency) = +10.16%; forecast compound annual growth rate (CAGR) 2013 to 2017 = +9.2%.
* 2013 beer volume sales = +8.00%; forecast CAGR 2013 to 2017 = +6.74%.
* 2013 carbonated drinks volume sales = +9.00%; forecast CAGR 2013 to 2017 = +7.53%.
Key Industry Trends Full Report Details at -
Danone Joins in Fan Milk Acquisition: In autumn 2013 dairy giant Danone announced that it is to join Abraaj Group in acquiring Fan Milk International. Abraaj will now take a 51% stake and Danone the remaining 49% stake. Until the agreement Danone will acquire a controlling share in the company in future years. The transaction is expected to be finalised by the end of the year. According to a statement from the company, 'The combination of Danone's know-how in the fresh dairy category alongside Abraaj's 20 year investment experience, insights and local presence on the African continent will boost Fan Milk's growth in a market with major potential.' Accra Breweries Doubles Capacity: In late 2013, SABMiller-owned Accra Breweries announced plans to invest US$100mn to expand its operations in Ghana to include the construction of two new state-of-theart- packaging lines, a warehouse and a waste treatment plant. The expansion project is expected to double the company's capacity and will be completed over a period of one- to two-years. The move will enable it to increase production of Club Ghana, the country's most popular local beer, and provide a base for the distribution of international brands such as Peroni Nastro Azzuro.
Risks To Outlook The Ghanaian cedi remains vulnerable amid the sizeable current account deficit and could depreciate more swiftly than we anticipate. In addition, mismanagement of oil revenues - perhaps stemming from insufficient institutional capacity - could dent investor perceptions.
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You may also be interested in these related reports: - Colombia Food & Drink Report Q1 2014 - Singapore Food & Drink Report Q1 2014 - India Food & Drink Report Q1 2014 - United Arab Emirates Food & Drink Report Q1 2014 - Brazil Food & Drink Report Q1 2014 (c) 2014 ClickPress Provided by Syndigate.info, an Albawaba.com company
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