Ghana’s Automotive Sector is set to witness a major transformation after receiving a grant of over 540,000 Euros from the German Cooperation.
The grant agreement is aimed at enhancing the automotive ecosystem and the development of industrial parks in the country.
Speaking at the presentation of two vehicles by the German Cooperation to the Ministry of Trade and Industry, Minister of Trade and Industry, Alan Kyerematen noted that through the grant agreement, a structure in the form of an automotive desk in the ministry is being supported as it will enable a better support for investors and other stakeholders.
“The Government of Ghana, through the Ministry of Trade and Industry, is working towards developing Ghana as an Automotive Hub for West Africa in collaboration with leading vehicle manufacturing companies such as Volkswagen. In this regard, government appreciates the support of the German Cooperation for the Ghana Automotive Development Programme and the Industrial Park and Special Economic Zones Initiative. The Automotive Desk to be created at the Ministry would also serve as a one-stop shop for investors, and receive and evaluate applications and investment plans for auto assembly and component manufacturing in the country,” he said.
Mr. Kyerematen also expressed confidence that the cooperation between the two parties will transform the automotive industry and attract more German investors into the industrial park initiative.
In 2017, the Government of Ghana launched a 10-point Industrial Transformation Agenda to expand the manufacturing sector, reduce unemployment and accelerate soci0-economic development.
The third pillar of the 10-point Transformation Agenda – Strategic Anchor Industries – is intended to position Ghana’s industrial landscape around certain industrial sectors and products.
This includes prioritizing investments into industrial parks and special economic zones for sectors such as automobile and vehicle assembly.
Mr Christoph Retzlaff, the German Ambassador to Ghana, said the German Cooperation was committed to supporting Ghana’s 10-point Industrial Transformation Agenda, through which local assembling of vehicles was expected to create at least 800 direct and 9,600 indirect jobs.
“Also, within this grant agreement, there will be support to local assembling of vehicles to create employment for more than 10,000 Ghanaians in the long run,” the Ambassador said.
The grant agreement between MoTI and GIZ contributes to the implementation of programmes under the Industrial Transformation Agenda.
The grant agreement was signed by the Country Director of GIZ Ghana, Regina B Barbosa and Patrick Yaw Nimo, the Chief Director of the Ministry of Trade and Industry.