Global auto giant, VW, is building an assembling plant in the North Industrial Area and is due to start production by the end of April 2020.
According to President Nana Addo Dankwa Akufo-Addo, Sinotruk, which also expressed interest in Ghana, will also begin assembling its plant this year.
“Toyota is scheduled to start the assembly of vehicles in Tema in the last quarter of this year. We have high hopes for this new industry, which has come to join our Kantanka”, he revealed in his last State of the Nation Address (SONA) for his first term of office
Toyota’s Africa division Chief Executive Officer, Richard Bielle, had 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.
This is a goal based on forecasts that Africa will account for one-third of the world’s population by 2050, up from 17% now.
Nigeria, Kenya, Uganda, Ghana, have witnessed double-digit growth in demand for parts in the past five years.
Story by: Naa Anyema Collison