Ghana’s Restaurant Owners Cash-In On Growing Middle Class
Ghana’s economy, estimated to be worth $37.5 billion, may be too small for world renowned food chains like McDonalds and PizzaHut. But local restaurant entrepreneur have taken up the challenge and are reaping from a growing middle class in the west African country.
Reuters reported that many of these restaurants target business travelers in major cities, expatriates and tourists but their sweet spot is Africa’s middle class with an acquired taste for Western food such as burgers or pizzas.
Aaron Allen, a food industry expert told Reuters, Sub-Saharan Africa spends more on food as a percentage of its income than any other region of the world yet its restaurant sector – South Africa aside – is smaller than elsewhere.
Running a restaurant anywhere in Africa is double the risk elsewhere in the world due to irregular power cuts, endemic corruption across the logistic chain that raises the cost of imports and lack of skilled labor leading to poor ethics of good service.