Ghana’s third Logistics Managers Index shows contraction in inventory levels

The rate of growth in logistics activities slowed down slightly in the third quarter of 2022, according to the Ghana Logistics Managers Index. A prime reason for this slowdown was the high cost of inventory and the associated cost of warehousing and transportation prices.

The Logistics Managers Index is a tool created by CARISCA to support decision-makers and improve businesses and livelihoods in Africa. By measuring combinations of inventory, warehouse and transportation activities and tracking the relationship between these variables, the LMI provides a timely measure of movement in logistics activities in Ghana.

The Ghana LMI is the first of its kind in Africa, and a significant step toward supply chain efficiency, visibility and transparency in the country. 

The LMI measures the growth or decline of Ghana’s logistics industry based on eight key components: 

  1. Inventory levels 
  2. Inventory costs
  3. Warehousing capacity 
  4. Warehousing utilization 
  1. Warehousing prices 
  2. Transportation capacity
  3. Transportation utilization 
  4. Transportation prices

Key findings from the third LMI report include:

  • For the first time since the quarterly LMI survey began in early 2022, one of the eight logistics metrics studied (inventory levels) scored below the threshold value of 50%, which could signal a possible recession.
  • Both warehouse capacity and utilization in the third quarter of 2022 hit all-time lows for the year.
  • The two metrics that show stronger growth than in the previous quarter are both cost-related: inventory costs and transportation prices.
  • The use of electronic payment systems grew much slower than had been predicted the previous quarter.
  • Despite the third-quarter results, logistics managers expressed optimism for improved growth in the fourth quarter.

CARISCA will continue to capture, analyze and share LMI findings quarterly on its website,

Download the latest LMI Report

Senior executives and managers of Ghanaian organizations are invited to participate in the next quarterly LMI survey by visiting