Ghana as a heterogeneous country has many different ethnic groups living together in a unitary state. Naturally, these various groups are bound to hold diverse perceptions about one other. A typical example concerns people from the southern regions referring to individuals from the three northern regions as “northerners” and ascribing general characteristics to all of them as though they belong to one ethnic group. Using a qualitative method, this study explored the extent to which four major ethnic groups (Dagomba, Ga, Ewe, Akan) in Ghana generate and use stereotypes to describe themselves. Quota and convenient sampling techniques were used to select 164 respondents from four major ethnic groups. Respondents were asked through open ended questions about the perceptions they hold about the group they belong to (in-group) and the out-groups. Thematic-content analysis of the responses indicated that stereotypes prevail among the four major ethnic groups. Each group held positive and negative stereotypes for both in-group and out-groups based on the level of contact. The findings are discussed using social identity theory and contact hypothesis.