Ghana, Mozambique to record joint fastest growth rate in furniture spending in SSA – Fitch Solutions

Ghana and Mozambique will see the fastest growth in furniture spending, with rates of 8.4% and 9.3% annually. Ethiopia, benefiting from its large population, is set to spend around $2.5 billion on furniture by 2027.

Ghana's spending is projected at $781 million, while Kenya's will reach $635.3 million, with other Sub-Saharan African markets spending less than $350 million.

Furniture demand in Sub-Saharan Africa exceeds supply, leading to higher costs and making furniture a luxury.

Low urbanization (46.6% in 2024) and exchange rate risks further challenge accessibility and distribution, inflating prices and limiting availability.