GHANA – Toyota Tsusho Corporation, the largest car manufacturer in the world by volume, is set to start a new car assembly plant in Ghana.

The company has signed a deal with the Ghanaian government allowing it to establish an assembly plant in the country.

The deal was signed in Yokohama, Japan, in the presence of Ghana’s president, Nana Akufo-Addo.

According to Toyota Tsusho’s President and CEO, Ichiro Kashitani, the automobile multinational will establish a Toyota and Suzuki assembly plant in the West African nation.

President Nana Akufo-Addo said that the deal with Toyota Tsusho was in line with his government’s vision of making Ghana an automotive hub for West Africa and the larger African market.

Speaking during the signing of the memorandum of understanding between Toyota Tsusho and the Ghanaian government, Kashitan said that the assembly plant would be ready to begin operations in August, 2020.

In his speech, President Nana Akufo-Addo, noted that the coming into force of the African Continental Free Trade Area (AfCFTA) would further facilitate the operations of automobile giant in Africa.

The Ghanaian government promised to provide the support necessary to facilitate smooth operations of the automobile manufacturer in the country.

“We are attaching a great deal of importance to the initiative,” the Ghanaian president said.

“We want to assure you that, whatever it is we can do on the side of the Ghana government to provide you with the necessary support and assurance, you can count on us to do that.”

Toyota Tshusho’s chief operations officer for Africa Division, Imai Toshimitsu, cited Ghana’s favourable economic climate as the primary reason for their decision to locate the assembly plant there.

Toyota Hilux is one of the vehicles that are scheduled to be assembled in the new assembly plant in Ghana. The car manufacturer is also planning to introduce small passenger cars and two Suzuki Brands at a later date.

Toyota Tsusho Corporation also has other vehicle assembly plants in Kenya, South Africa, and Egypt.