Ghana will post the fastest growth in personal care spending between 2025 and 2029, among 10 selected markets in Sub Saharan Africa (SSA).
This will average 18.8 per cent year-on-year, as spending increases to US$1.5 billion in 2029.
According to Fitch Solutions, this is due to largely rising stability of the cedi against the US dollar.
In 2025, the UK-based firm forecast the SSA region to spend US$14.8 billion on personal care products across 10 selected markets (South Africa, Kenya, Uganda, Ghana, Namibia, Cameroon, Ethiopia, Mozambique, Botswana, Zambia and Gabon).
Despite not being the largest consumer market in terms of a purely demographic size, South Africa’s more developed economy and consumer market mean that it leads spending on personal care products, at US$4.7 billion in 2025.
East African markets, Kenya (US$4.5 billion) and Uganda (US$1 billion), are the next largest spenders in 2025, followed by Ghana at US$986.3 million.
For the region, spending growth over 2025 will come in at 4.1 per cent year-on-year, following a 4.8 per cent year-on-year contraction recorded in 2024. This was largely a result of exchange rate volatility.
Over its medium-term forecast period (2025-2029), Fitch Solutions projects personal care spending in SSA to grow at an average annual rate of 8.0 per cent year-on-year, taking total spending to US$20.9 billion by 2029.
BY TIMES REPORTER
