Personal care spending: Ghana to post fastest growth of 18% year-on-year – Fitch Solutions

Ghana is set to record the fastest growth in personal care spending among 10 selected Sub-Saharan African (SSA) markets between 2025 and 2029, averaging 18.8% year-on-year and reaching $1.5 billion by 2029.

Fitch Solutions attributes this growth to the cedi’s increasing stability against the US dollar. I

In 2025, SSA is expected to spend $14.8 billion on personal care products, with South Africa leading at $4.7 billion, followed by Kenya ($4.5 billion), Uganda ($1 billion), and Ghana ($986.3 million).

The region’s overall spending is projected to grow at an average annual rate of 8.0% from 2025 to 2029, reaching $20.9 billion by 2029, rebounding from a 4.8% contraction in 2024 due to exchange rate volatility.