5 informal businesses booming in 2023

Amid the plummeting of Ghana’s economy which has triggered unimaginable hardship in the country, some businesses have been fortunate enough to fall on the right side of history and are enjoying hitherto unprecedented patronage.

These businesses, though not listed as formal, are booming and enjoying significant benefits for operators in the space.

The spike in patronage of these businesses which has culminated in the huge profit margins is due to a number of factors and GhanaWeb highlights five of those businesses and the reasons behind their upturn in fortunes.

Kosua ne meko

Possibly the fastest of them all, boiled egg and pepper sauce have become the most popular delicacy among Ghanaians since the turn of the year.

Hardly will you go 200 metres without spotting a hawker with the popular egg and pepper sauce meal.

So popular has it become that the New York Times did a whole feature on it.

The surge in the popularity and patronage of kosua ne meko is largely due to its taste. I tastes so good that you are likely to ask for more after having just one.

The price now ranges between GHC2.50 and GHC4, depending on your location.

Fresh coconut

As people become more aware of the health benefits of the coconut fruit, the patronage has been on an upward scale.

Coconut has been found to be good for weight management, cholesterol and sugar levels and people are now patronizing it.

The patronage of the fresh coconut has created a big market for it now; mostly in the cities.

Courier businesses

An off-shoot of the Covid-19 economy, the courier industry continues to rise rapidly as people now prefer to have things delivered in the comfort of their homes instead of the hustle and bustle of sitting in cars for purchases.

Also the difficult economy has compelled most formal sector employees to set up remote and alternative source of income. Owing to their busy schedule, they are unable to deliver personally to their clients and customers hence the resort to delivery guys which has created a big market for the courier industry.

Social media influencing job/Content creators

Almost everyone is a content creator now. The multiplicity of the benefits offered by social media companies such as funds, fame, personal credibility and aggrandizement has motivated most people to embark on a content creation journey.

They create content on various social media platforms that will earn them engagement and in turn fetch them brand influencer jobs and payment from the social media companies.

Currency changers

The more forex bureaus close down, the more the business of informal currency changers boom.

The craze for travelling abroad has created a need for currency change and instead of resorting to banks and forex bureaus, most people prefer the wayside and unlicensed ones as their rates are believed to be higher than those in the formal sector.

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