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

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

Mr Alan Kyerematen made the remark at the inauguration of a Nissan Vehicle Assembly Plant at the Tema Industrial Area on Thursday, March 31, by President Akufo-Addo.

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

He revealed that the Ministry is 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.

The move, he said, 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.

"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," he said.

Mr Kyerematen further noted that the Ministry of Trade and Industry 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 will outline an incentive framework and regulatory regime to support the optimisation of the automotive value chain within the country.

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

He 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.

Mr 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.

The new plant is expected to assemble Peugeot branded vehicles for the Ghanaian and other West African markets.

In attendance were the Japanese Ambassador to Ghana, Hisanobu Mochizuki, Ministers of State, Chairman and Managing Director of Japan Motors Trading Company Limited, and Members of the Diplomatic Corps.