Accra - Economy

Economy

In 2008, the World Bank estimated that Accra's economy constituted around 10% of Ghana's total gross domestic product (GDP), or around US$3 billion. The economically active population of Accra is estimated to be 823,327, but the daily influx of commuters from dormitory towns outside the city inflates this figure on most days.

Accra is a major centre for manufacturing, marketing, finance, insurance, transportation and tourism. It has around 350 major industrial establishments, with Lebanese and Asian companies predominant in business and the economy. Its financial sector incorporates a central bank, nine commercial banks (with 81 branches), four development banks (with 19 branches), four merchant banks (with seven branches), three discount houses, one home finance mortgage bank, multiple building societies, Ghana Stock Exchange (GSE) and GSE All-Share Index, 218 foreign exchange bureaux, nine finance houses, nine insurance companies, 12 insurance brokerage firms, two savings and loans companies, and numerous real estate developers. Lebanese, European and Asian companies predominantly own land in the capital, with significant industrial sites and residential developments. They also dominate the importation of goods and services.

The road network in the Accra Metropolitan Area totals 1,117 kilometres (694 mi) in length, consisting of 918 kilometres (570 mi) of paved and 199 kilometres (124 mi) of unpaved roads.

There are over 50,506 identified residential properties in Accra, and about 4,054 commercial/industrial/mixed properties, with a total rateable value of GH¢13,849,014. There are also 29 markets, 36 facilities for both on–street and off-street parking, and over 120,000 units of wholesale, retail and other self-employed businesses, as well as several facilities for sports and recreation, and many tourist centres.