Ghana’s minister for trade, Alan Kyerematen announced that South Korean car manufacturers, Hyundai and KIA would set up their assembly plants in Ghana by the end of 2022.
Kyerematen revealed that the manufacturers would be joining the likes of Toyota-Suzuki, Nissan, Kantanka, Volkswagen & Sinotruck that are already operating in the country.
“By the end of 2022, the Ghana Automotive Development Programme will lead to the establishment of four assembly plants; there will be some leading global auto manufacturing companies including Toyota-Suzuki, Nissan, Kia and Hyundai in addition to the current vehicle assembly operations of Kantanka Automobile Limited, Volkswagen and Sinotruck” he disclosed in Accra.
The move is part of the government’s plan to attract automakers to the West African economy in a bid to grow its economy and create jobs as the new deal would reportedly create 6,600 part manufacturing jobs for Ghanaians.
Meanwhile, Ghana had earlier announced that it would offer car making companies like Volkswagen and Nissan tax breaks of up to 10 years as part of the plan to encourage trade relationships.