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There are numerous local advertising companies in Ghana. Deregulation of the media and an increase in the number of newspapers and broadcasting stations has contributed to growth in the sector. Industry players predict continued revenue growth of up to 25% per year, taking the advertising industry to a value of $50m by 2014.

Advertising in the country is largely directed at three areas of the economy – banks, mobile phone companies and fast-moving consumer goods such as electronic appliances and textiles. Indeed mobile phone companies collectively account for well over a third of the advertising spend in the country. In conjunction with the growth of the oil industry, new sectors are also entering the market, such as retail and vehicle companies and hotels in the Western Region.

The Ghanaian market is being targeted by international marketing firms keen to gain a share of the market that oil-fuelled growth is set to expand. The sector is increasingly being led by local businesses that have entered partnerships with global agencies. For example, in 2011 Scangroup and Ogilvy, associates of the global advertising and marketing services company WPP, announced the launch of two advertising firms, Scanad Ghana Limited and Ogilvy Ghana Limited. However, 2012 also saw the merger of two of the country’s largest local marketing firms – AdSpace and Origin8 Limited, the company with the most awards from the Advertising Association of Ghana (AAG).

AAG is the industry body and professional institute in Ghana. It represents the interests of Ghana’s advertising and marketing companies and sets operational standards for the industry. The Chartered Institute of Marketing is the main professional body for the marketing profession in Ghana, whilst the Institute of Public Relations is the only professional body for public relations practitioners in Ghana. 

The World Economic Forum’s Global Competitiveness Report (2012-13) ranked Ghana 112th out of 144 countries in relation to the extent of marketing. The country was given a value of 3.4 out of 7, below the mean of 4.1 and one below neighbouring Cote d’Ivoire. The extent of marketing reflects the nature of its audience, with the country again placing 112th out of 144 in relation to the sophistication of the buyer market. With a value of 2.9 out of 7, the country was below the world mean of 3.5, suggesting buyers are more likely to make their decisions based on the lowest price rather than on a sophisticated analysis of performance attributes.

Radio remains Ghana’s most popular medium, although increased access to television is providing a growing challenge. There are many private FM stations and most broadcast stations rely solely on advertising revenue. Although online journalism is experiencing growth in the country, the new media and traditional print journalism are struggling to overcome problems, as advertising revenue goes round within a small cycle of news organisations.

The country is experiencing a growth in large-scale advertising campaigns. A new business district is developing in Accra, filled with giant billboards, and increasing numbers of buildings are being used as advertising hoardings.