This year, three more auto assembly facilities will be built to produce a total of six international automakers' brands: Hyundai, Isuzu, Honda, KIA, Changan, and ZX Auto. This year, Suzuki car manufacturing will begin at the Toyota assembly facility, which started commercial production in 2021.
13 brands of vehicles will now be available that were built in Ghana thanks to the huge growth in assemblers. Ken Ofori-Atta, the minister of finance, claims that the Strategic Anchor Industries Initiative's Ghana Automotive Development Program continues to draw investment from major automakers.
Nissan opened an assembly facility in Tema, in the Greater Accra area, in April 2022. It can now construct more than 31,000 automobiles annually, making it the biggest auto assembly factory in Ghana. The factory will also make cars under the Peugeot brand, which will be sold both domestically and in neighbouring nations. This would raise the total of international automakers building cars under the Ghana Automotive Development Programme to five, including Ghana's own Kantanka and Volkswagen (VW), Toyota, Sinotruck, Nissan, and Peugeot.
According to Mr. Ofori-Atta, the enabling Act included provisions to support the programme, such as raising the customs duties on vehicles in the same category as those being locally assembled to 35 percent of the CIF value and prohibiting the import of salvaged vehicles and vehicles older than 10 years.
Before the end of the year, the government, he claimed, will approve rules to put these measures into effect. He said, "Moreover, deliveries of these cars would be zero-rated for VAT purposes until December 2023 to keep the cost of these vehicles competitive.
Mr. Ofori-Atta proceeded by saying that localising the manufacturing and delivery of components and parts, including spare parts for the automobile sector, is made possible by the localization of vehicle assembly. He said, "The Government is now developing a Component Manufacturing Policy for implementation.
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