Ghana maintained its position as the 5th most attractive market in the Sub Saharan Africa region.
According to the January 2022 Sub-Saharan Africa’s Auto Sales report by Fitch Solutions, Ghana has a developing automotive sales environment amid a favourable political risk outlook, enabling policy certainty.
In this regard, “Ghana managed to outperform its regional peers under our short- and long-term political risk scores in our RRI, scoring a respective 59.7 and 70.2 under these indicators”.
However, the underdeveloped road infrastructure remains a deterrent for potential, as the country score of 16.1 under the ‘quality and extent of transport network’ indicator, underperforms the Sub Saharan Africa’s region average score of 21.3.
Nevertheless, it said progress is being made with regards to upgrading and developing the country's road infrastructure with the recent commissioning of a four-tier interchange in Accra underscoring the progress being made to upgrade the country's roads.
Also, it said “Ghana's low levels of vehicle ownership rates highlighted by a score of 10.5 under our 'vehicle ownership per 1,000 inhabitants’ indicator signals further room for vehicle sales growth going forward as rising incomes lead to first-time buyers entering the market for vehicles.”
This signaled further room for vehicle sales growth going forward, as rising incomes lead to first-time buyers entering the market for vehicles.
Meanwhile, South Africa maintained its 1st position as the most attractive auto market in Sub Saharan Africa, followed by Mauritius and Botswana.
COUNTRY | RRI | RANK |
South Africa | 50.5 | 1st |
Mauritius | 46.7 | 2nd |
Botswana | 44.4 | 3rd |
Kenya | 32.5 | 4th |
Ghana | 31.4 | 5th |
Tanzania | 30.8 | 6th |
Nigeria | 30.5 | 7th |
Latest Stories
-
Slay Queen Economy — Data Over Degrees
31 seconds -
Asantehene calls on African leaders to foster self-reliance through cooperation and intra-trade
11 minutes -
Media urged to champion increased investment in Africa’s agriculture
31 minutes -
‘Africa needs its own rating system’ – Akufo-Addo on global credit bias
40 minutes -
Think tanks condemn PURC’s 2.45% tariff hike, demand transparency
43 minutes -
Fire incidents: Interior Minister condemns prank calls, urges public education
46 minutes -
Franklin Cudjoe criticises Torkornoo’s press briefing as needless
49 minutes -
Afreximbank was Ghana’s lifeline when the world turned away during COVID-19 – Akufo-Addo
50 minutes -
Akufo-Addo pushes for 30% sovereign reserves in African banks
56 minutes -
Government insures fire service personnel
59 minutes -
Afreximbank launches PAPSS credit card to boost financial integration
1 hour -
Government to design innovative financing scheme for agribusiness – Deputy Trade Minister
1 hour -
Obasanjo outlines three-pillar strategy for Africa’s sustainable development
2 hours -
Government to support 200 MSMEs with digital infrastructure
2 hours -
Education Minister tasks Ghana Library Authority Council to build Presidential libraries
2 hours