President Akufo-Addo says his administration is committed to developing more innovative policies in the country’s automobile industry to ensure the sustainability of the sector.
One of such innovative plans the President says will be the introduction of a vehicle financing policy to support the Ghanaian population to purchase locally assembled vehicles.
Addressing attendees of the commissioning ceremony of the state-of-the-art assembly plant of Nissan, in Ghana, President Akufo-Addo, indicated that current policies of government has attracted several global car manufacturing brands to Ghana, but there is more his administration can do to guarantee their sustainability.
“I am delighted that in the automobile sector, we have successfully attracted investment from a number of global iconic brands including Volkswagen, Toyota and now Nissan”.
“Other original manufacturing groups including Hyundai, KIA and Isuzu, have also reached advanced stages of establishing commercial production facilities in Ghana” President Akufo-Addo said.
“These new investments have been realized on the back of the new Ghana automotive development policy and programme, which offer very generous fiscal incentives and creates an attractive ecosystem for the automotive industry” he added.
Support for automotive sector:
In assuring sector players in the automotive industry about his government’s unflinching support, President Akufo-Addo said “let me conclude by assuring all stakeholders within the automotive industry of my government’s determination to support the industry”.
“We will continue to design innovative policies to ensure the sustainability of the industry including developing a vehicle financing scheme aimed at supporting the purchase of locally assembled vehicles” President Akufo-Addo stated.
Sector success:
The Minister for Trade and Industry Allan Kyerematen in his brief remarks at the commissioning ceremony indicated that Ghana currently has five of the world’s six leading automobile companies operating within its shores.
This he says is no mean an achievement and it is worth celebrating.
“We have Volkswagen, we have Toyota, we have Nissan, we have Hyundai and the Stellantis group in that order. I think this is worth celebrating” the trade minister said.
“These companies that I have mentioned are iconic companies in their countries. In Germany, if VW moves, other German companies will move. In Japan, if Toyota moves, if Nissan moves, other Japanese companies will move”.
“So, we believe that this is not just going to bring investments in the auto industry into our country, but will also bring other investments that will support the development of our economy” Kyerematen added.
State of the art facility:
Managing Director of the Nissan Africa, Mike Whitfield, in his speech at the ceremony noted that the new Nissan plant in Ghana is the most modern vehicle assembling facility in the entire Economic Community of West African States.
“I can tell you without any fear of contradiction that this is the most modern state of the art facility in West Africa. Its existence is a tribe to the passion and commitment of Japan Motors in investing US$9 million dollars” Mr Whitfield said.
“This in itself would not have been possible without the security and certainty offered by the government of Ghana’s progressive automobile development policy which was signed into law in record time” the Managing Director of Nissan Africa, Mike Whitfield added.
The Assembly Plant:
The civil engineering phase of the construction of the 5 000 sq. m factory in Tema, was completed in the third quarter of 2021.
It was followed by the installation of the specialized equipment from Japan which is essential for the correct assembly of vehicles according to Nissan’s stringent global standards.
The plant consists of four warehouses for the assembly and testing lines, a special shower bay fed by an underground 180 cu m water tank, the only test track in West Africa, offices and a showroom area, all on 22 407 sq. m site.
The entire project was overseen by Japan Motors assistant managing director Mohammed Byrouthy.
The preparation for the Ghana Assembly plant follows Nissan’s ground-breaking Memorandum of Understanding with the Government of Ghana that was signed during the initial stages of working towards the Ghana Automotive Development policy.
The Navara production facility will be 100% Ghanaian operated by the Japan Motors Trading Company (JMTC), which invested US $3 million into its construction, following Ghana’s drafting of its automotive development policy to encourage investment in the sector.
