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🇬🇭 Ghana /Economy & Trade

Ghana must shift from vehicle imports to local assembly – Prof. Hinson

From Ghanaian Times · () English

Summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • Ghana's automotive industry should transition from vehicle imports to local assembly and manufacturing to stimulate economic growth and job creation, according to Professor Robert Ebo Hinson.
  • Prof. Hinson highlighted the significant economic opportunities available by leveraging the growing automotive sector, drawing parallels with the success of Chinese vehicle brands in South Africa.
  • He urged financial institutions to support local auto businesses with affordable financing and long-term investments to foster domestic production and meet projected global demand.

Professor Robert Ebo Hinson has called for a significant shift in Ghana's automotive industry, urging a move away from vehicle importation and sales towards full-scale local assembly and manufacturing. He believes this transition is crucial for boosting the nation's economy and creating more jobs.

Speaking at the Zonda Tech Auto Show and Exhibition in Accra, Prof. Hinson, a Professor at the University of Ghana Business School, pointed to the substantial economic potential within the growing automotive sector. He suggested that Ghana could learn from the rapid expansion of Chinese vehicle brands across African markets, citing South Africa where Chinese brands now constitute 50 to 70 percent of vehicles on the road. Data indicates a dramatic increase in financed purchases of Chinese vehicles, with a significant portion bought by consumers under 35.

"Our goal should be to see more vehicles assembled in Ghana by 2030 to 2040," Prof. Hinson stated, emphasizing the global automotive industry's projected growth to 100 million units by 2030, with electric vehicles playing a key role. He also appealed to banks and financial institutions to provide affordable financing and long-term investments to support the growth of local automobile businesses.

Madam Zang Zang, Managing Director and CEO of ZondaTech Ghana, shared her company's efforts to build consumer trust in Chinese brands. Zonda Tech successfully overcame initial consumer doubts about durability and reliability through initiatives like a nationwide road tour with a "pay later" arrangement for a GWM Power Pickup. The company is actively involved in local assembly, producing models such as the GWM Power Pickup and Haval Jolion in Ghana. Their strategy also includes partnerships with media organizations to allow wider public experience with their vehicles.

Samuel Attah-Mensah, CEO of Citi FM, Citi TV, and Channel One TV, affirmed his organization's partnership with ZondaTech as a commitment to promoting Ghanaian enterprise and supporting local vehicle assembly growth.

Our goal should be to see more vehicles assembled in Ghana by 2030 to 2040.

— Professor Robert Ebo HinsonProfessor Hinson expressed his vision for the future of Ghana's automotive sector, setting a target for increased local vehicle assembly within the next decade and a half.
DistantNews Editorial

Originally published by Ghanaian Times. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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