You won’t find money lying in the middle of every street in Accra. Even after the 100th try, probably. However, there are many ways the busy streets of Ghana’s capital can reward you. The street is putting hundreds of thousands of cedis in the hands, pockets and purses of those who ply it diligently. Well, if you’re lucky you would come across a 1 cedi note lying on the floor of one of the many busy lorry stations in the city, but that’s not the focus of this article. For those who are still looking for an opportunity to make money in Ghana, here’s one of them.
On every stretch of Accra’s streets, tarred or untarred, you will find brisk business activities taking place. Thousands of people engage in buying and selling via small roadside kiosks, hawkers, food vendors and major shops along the streets. Now here lies the money.
Businesses that have relied on the power of the streets have been duly rewarded. Rush energy drink, adinkra pie, nkatie burger, newspapers, fanmilk products, and quite recently A1 bread are among the many products which have enjoyed tremendous brand awareness and acceptance on the streets. They have become household names to the dwellers of Ghana’s capital city, Accra. A sure route to make money in Ghana, as a small retailer.
Business activities along the streets are quite enormous if you observe the zeal with which hawkers run along and across the major streets in the mornings and at evening rush-hour periods. Money is exchanged for goods at every second, enriching the owners of these businesses and the retailers who risk everything on the streets as well. Without taking a dive into the numbers, you would agree that this should have a positive relationship with revenue growth.
Contrary to the opinion of a minority section of Accra’s population, the products sold in or along the streets are not inferior. It’s often the same products you find in many supermarkets. You’ll have noticed that strong brands like Malta Guinness have in the past few years also invaded the streets of Accra. It is where the money is. To put this in perspective, consider a Nielsen survey, which found that majority of Ghanaians shop at general stores or from road side kiosks that sell almost everything from beverages to mobile recharge vouchers.
As entrepreneurs, new or seasoned, there are many lessons to pick from Accra’s street business. It does not seem like business in the street is coming to a close any time soon. Even though law enforcement agencies have at some points taken steps to drive hawkers –the main drivers of street business, away from the streets, the model keeps flourishing. Where there is traffic, there is money because it is where the buying and selling takes place. For those who find this retail model very dangerous (which it is), you can site your small shop by the road (having obtained the necessary permits), and this also, can be very rewarding. It is one of many ways to make money in Ghana.
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