Five of the world’s six leading automobile firms producing cars in Ghana - Alan Kyerematen

Alan Kyeremanten   Automobile.jpeg Alan Kyeremanten, Trade Minister

Sun, 3 Apr 2022 Source: Aba Bentum, Contribuitor

Minister for Trade and Industry, Alan Kyerematen, has disclosed that five out of the world’s six leading automobile companies are currently producing vehicles in Ghana.

According to him, Ghana’s Automotive Development Policy has become the masterpiece in the automotive industry across the continent, presenting itself as a template for other sub-Saharan African countries to adopt.

He stated that currently, present in Ghana are Volkswagen (VW), Toyota, Nissan, etc. with Kantanka Automobile Company being the main local vehicle manufacturer.

The minister speaking at inauguration of Nissan Assembly plant in Tema said the investor community is expecting the full implementation of the Policy.

He added that Ministry of Trade is also engaging with the Automotive Assemblers Association of Ghana (AAAG), Second-hand Dealers, the Ministry of Finance, and Ghana Revenue Authority (GRA) to develop a roadmap for the smooth implementation of the outstanding issues.

"I wish to commend our private sector partners for their continuous support."

"This move is to position Ghana to take advantage of the increasing demand for vehicles in Africa and boost local production of vehicles and go a long way to enhance the export of vehicles to neighbouring countries within ECOWAS and across the continent."

“Africa is looking forward to doubling its current production of close to 1.5 million vehicles annually by 2030 and Ghana is looking forward to participating fully in this market” he added.

The minister continued, "This cannot happen by chance; it would require deliberate efforts to build our capacities in the area of Components and Parts development to feed into the value chain of the automotive industry."

Alan Kyerematen further noted that his outfit is embarking on a comprehensive supplier development programme to develop the entire automotive ecosystem through technological development, human capital and supply chains development.

The programme, he explained will outline incentive framework and regulatory regime to support the optimisation of the automotive value chain within our country.

The minister however said he is expectant of a full participation of all relevant stakeholders in kick-starting the establishment of an integrated automotive industry in Ghana which will rely on local resources and serve as raw materials for component manufacturing.

He also hinted that a group of global vehicle Components and Parts Manufacturing companies from South Africa, Germany, and Egypt will next month, undertake a study tour in Ghana to assess our existing local capacity and initiate plans to establish strategic alliances with local private sector operators in the industry.

Alan Kyerematen pledged his sector’s commitment to addressing the teething challenges whilst working together with all relevant stakeholders to create an enabling environment for a successful automotive industry in Ghana.

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Source: Aba Bentum, Contribuitor
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