David Coffey
The African Association of Automotive Manufacturers (AAAM) says it fully supports the government of Ghana as it continues to implement the provisions in its new Automotive Development Policy (ADP).
The policy has, since its inception in 2019, seen three new plants start the assembly of Volkswagen, Toyota, Nissan and Peugeot models.
This is in addition to Ghana’s own assembler, Kantanka.
Now, Hyundai, Kia and Isuzu models are to be added to the line-up before the end of the year, says the AAAM.
The association adds that it has been able to interest a number of component manufacturers in considering partnerships to invest in manufacturing capacity for the aftermarket, to be followed by the production of original equipment manufacturer parts.
This has seen Ghana add an automotive component manufacturing policy to the ADP.
“The government of Ghana is to be applauded for implementing the APD,” says AAAM CEO David Coffey.
“The government has also committed to developing vehicle financing schemes to support the purchase of locally assembled vehicles.”
“A progressive automotive policy is essential for any country wishing to attract significant investment from international companies for either component or vehicle manufacturing, and Ghana was the first to do so after the established vehicle manufacturing countries of Morocco and South Africa,” adds Coffey.
“Egypt has recently announced their new automotive policy and we are working with a number of other African countries to do the same.
“The automotive industry is gaining traction in Africa, where we will see trading between assembly hubs across the continent, with Ghana being a hub in West Africa.
“Ghana is on a very exciting path that will have profound economic benefits in the medium and long term,” notes Coffey.