GHANA – Ghana’s President H.E. Nana Addo Dankwa Akufo-Addo has presided over the launching ceremony of the locally assembled Volkswagen car which was held in the country’s capital, Accra.

The successful launch of the Volkswagen car follows the signing of an MoU between the Government of Ghana and the German automobile manufacturer which was aimed at establishing a vehicle assembly plant in Ghana.

The MoU according to Ghana Web was signed 2 years ago during an official visit by the German Chancellor, Angela Merkel to Ghana.

Volkswagen will be assembling the Tiguan, Teramont, Amarok, Caddy, Polo, and the famous Passat at the new assembly plant in Ghana.

Speaking at the unveiling ceremony President Akufo-Addo said that Volkswagen’s presence in Ghana has been facilitated by government’s bold move to develop the Ghana Automotive Development Policy.

“I am pleased that a major global automobile company, has decided to assemble a number of brands right here in Ghana not only for domestic use but also for the larger West African market,” President Akuffo Addo added.

The Ghanaian president further noted that Ghana is going to establish an Automobile Industry Development Support Centre, which will co-ordinate the technical processes for licensing domestic vehicle assemblers and manufacturers.

The Centre will also monitor manufacturer compliance with industry regulations and standards while at the same time overseeing the establishment of a Vehicle Financing Scheme.

These scheme according to the Akufo-Addowill link financial institutions to individuals and groups interested in purchasing newly-assembled vehicles in Ghana.

Chief Executive of Volkswagen Ghana, Mr Jeffery Oppong Preprah on his part said the Ghana Automotive Development Policy, when implemented, has the potential to reach tremendous levels of automobile production.

Mr. Preprah further noted that, “With a population of about 30 million people, Ghana has the potential of a maximum annual market of 300,000 new cars once the policy has been fully implemented.

VW’s production follows that of a Chinese company, Sinotruk which is already engaged in the assembly of trucks in Ghana.

Ghana’s President said he was hopeful that other global automobile companies, which have indicated their preparedness to set-up shop in Ghana, will soon follow the remarkable, pioneering example of Volkswagen.

Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals and insights from Africa’s business, economy and more. SUBSCRIBE HERE