Global German automobile giant, Volkswagen (VW), is due to start production by the end of April 2020 as the company is currently building an assembling plant in the North Industrial Area of Accra Ghana .
Toyota is also scheduled to start the assembly of vehicles in Tema in the last quarter of 2020. According to the president of Ghana Nana Akufo Addo , the launch of the Ghana Automotive Development Policy in August last year has helped to attract investments and commercial interests from very big players including Toyota, Volkswagen, Nissan, Renault, Hyundai, Sinotruk and Suzuki . President Akufo-Addo said this on the floor of parliament he delivered the State of the Nation Address in Accra on February 20. Earlier, German Ambassador to Ghana, Christoph Retzlaff confirmed that the German car manufacturer, Volkswagen (VW) will from early 2020 commence the first phase for the establishment of an assembling car plant in Ghana. According to him, the second phase of the assembling plant will also be established at new premises either in Tema or Takoradi in 2021. Toyota’s Africa division Chief Executive Officer, Richard Bielle, earlier said that he wants the continent to provide up to 30% of the corporation’s total annual revenue, currently at $60 billion, within the next 20 years. The African auto parts market for passenger vehicles is emerging as one of the most important re-export markets, growing more than 11 percent year-on-year, and estimated to be worth US$7.68 billion in 2013 and based on the double-digit growth of demand in key Sub-Saharan countries, the value of Africa’s auto parts market is likely to double by 2020. Nigeria, Kenya, Uganda, Ghana, have witnessed double-digit growth in demand for parts in the past five years.