Overview of Cost of Living in Ghana
Ghana's cost of living varies significantly between urban centers like Accra and Kumasi versus rural areas. The Ghanaian Cedi (GHS) has experienced fluctuations against major currencies, directly impacting purchasing power. As of 2024, Ghana ranks among the more affordable West African countries, though inflation and currency depreciation have affected living costs in recent years.
The average monthly salary in Ghana ranges from GHS 800 to GHS 3,500, with significant variations based on sector, education level, and location. Public sector workers typically earn between GHS 1,200-2,500 monthly, while private sector salaries can vary more widely.
Housing Costs
Rental Prices by City
Accra (Greater Accra Region):
- One-bedroom apartment in city center: GHS 1,500-3,500 per month
- One-bedroom apartment outside center: GHS 800-2,000 per month
- Three-bedroom apartment in city center: GHS 3,500-8,000 per month
- Three-bedroom apartment outside center: GHS 2,000-5,000 per month
Kumasi (Ashanti Region):
- One-bedroom apartment in city center: GHS 800-2,000 per month
- One-bedroom apartment outside center: GHS 500-1,200 per month
- Three-bedroom apartment in city center: GHS 2,000-4,500 per month
- Three-bedroom apartment outside center: GHS 1,200-3,000 per month
Tamale (Northern Region):
- One-bedroom apartment: GHS 400-1,000 per month
- Three-bedroom apartment: GHS 1,000-2,500 per month
Property Purchase Prices
Property ownership in Ghana is governed by the Land Act, 2020 (Act 1036), which reformed land administration. Purchase prices per square meter:
- Accra prime locations: GHS 3,000-8,000 per sqm
- Accra suburban areas: GHS 1,500-4,000 per sqm
- Kumasi: GHS 1,000-3,000 per sqm
- Secondary cities: GHS 500-1,500 per sqm
Additional Housing Costs
- Electricity bill (average household): GHS 150-400 per month
- Water bill: GHS 50-150 per month
- Internet (fiber broadband): GHS 200-500 per month
- Waste collection: GHS 20-50 per month
- Security services: GHS 100-300 per month (common in urban areas)
Transportation Costs
Public Transportation
Ghana's public transport system includes trotros (shared minibuses), buses, and taxis:
- Trotro fare within Accra: GHS 2-8 per trip
- Metro Mass Transit bus: GHS 1-5 per trip
- Uber/Bolt ride (5km in Accra): GHS 15-25
- Traditional taxi (negotiated fare): GHS 10-30 for short distances
Private Vehicle Ownership
- Petrol price: GHS 10-12 per liter (as of 2024)
- Diesel price: GHS 11-13 per liter
- Vehicle registration: GHS 50-200 depending on engine capacity
- Road worthy certificate: GHS 30 annually
- Third-party insurance: GHS 200-500 annually
- Comprehensive insurance: GHS 1,500-5,000 annually
Inter-city Transport
- Accra to Kumasi (VIP bus): GHS 40-80
- Accra to Tamale: GHS 80-150
- Domestic flight (Accra-Kumasi): GHS 400-800
Food and Grocery Costs
Local Market Prices
Ghana's food costs vary seasonally and by region. Local markets typically offer better prices than supermarkets:
Staple Foods:
- Rice (1kg): GHS 8-12
- Yam (1kg): GHS 4-8
- Plantain (per bunch): GHS 5-15
- Cassava (1kg): GHS 3-6
- Maize (1kg): GHS 4-7
- Bread (loaf): GHS 4-8
Proteins:
- Chicken (1kg): GHS 20-35
- Beef (1kg): GHS 25-45
- Fish (tilapia, 1kg): GHS 15-30
- Eggs (12 pieces): GHS 12-18
Vegetables and Fruits:
- Tomatoes (1kg): GHS 5-15 (highly seasonal)
- Onions (1kg): GHS 6-12
- Oranges (per dozen): GHS 5-10
- Bananas (per bunch): GHS 3-8
Restaurant and Dining Costs
- Local restaurant meal: GHS 15-35
- Mid-range restaurant (per person): GHS 50-120
- Fast food meal: GHS 25-45
- Street food snack: GHS 3-10
- Local beer (club/restaurant): GHS 8-15
- Soft drink: GHS 3-8
Supermarket Shopping
International supermarkets like Shoprite, Game, and Palace typically charge 20-40% more than local markets:
- Weekly grocery shopping (family of 4): GHS 200-400
- Monthly household essentials: GHS 150-300
- Imported goods premium: 50-100% above local alternatives
Healthcare and Education Costs
Healthcare
Ghana operates the National Health Insurance Scheme (NHIS) under the National Health Insurance Act, 2012 (Act 852):
- NHIS annual premium: GHS 25-48 for formal sector workers
- Private hospital consultation: GHS 100-300
- Private health insurance: GHS 1,500-5,000 annually
- Dental checkup: GHS 50-200
- Prescription medications: GHS 20-150 (varies widely)
Education
- Public basic education: Free (fees abolished under Free SHS policy)
- Private basic school: GHS 2,000-10,000 per term
- International school: GHS 15,000-40,000 per year
- University of Ghana fees: GHS 3,000-8,000 per year (Ghanaian students)
- Private university: GHS 8,000-25,000 per year
Purchasing Power Analysis
Salary Benchmarks by Sector
- Teaching (public): GHS 1,200-2,800 monthly
- Banking/Finance: GHS 2,500-8,000 monthly
- Engineering: GHS 2,000-6,000 monthly
- Healthcare professionals: GHS 1,800-5,000 monthly
- Mining sector: GHS 3,000-12,000 monthly
- NGO/Development: GHS 2,000-7,000 monthly
Living Standards by Income Level
Low Income (GHS 800-1,500 monthly):
- Housing: 40-50% of income
- Food: 35-45% of income
- Transport: 10-15% of income
- Typically live in shared accommodation or family compounds
Middle Income (GHS 1,500-4,000 monthly):
- Housing: 30-40% of income
- Food: 25-35% of income
- Transport: 10-15% of income
- Can afford decent rental accommodation and occasional dining out
High Income (GHS 4,000+ monthly):
- Housing: 25-35% of income
- Food: 15-25% of income
- Can afford premium locations, private healthcare, and international schools
Regional Cost Variations
Cost of living varies significantly across Ghana's 16 regions:
- Most expensive: Greater Accra Region (100% baseline)
- Moderately expensive: Ashanti Region (75-85% of Accra costs)
- Affordable: Northern regions (50-70% of Accra costs)
- Rural areas: 40-60% of urban costs, but with limited services
Note: Some specific figures require verification due to rapid economic changes and inflation. Current exchange rates and seasonal price variations should be checked for the most accurate planning.