Ghana AutomobileCompanies (2024 - 2029)

Ghana Automobile Market Companies Summary

The Ghanaian automotive market is expected to see significant growth, supported by the local authorities and the government's planned reduction in corporate tax and removal of special import levies. The market is made up of retailers of imported used vehicles and a few distributors who deal with retailing newly manufactured vehicles. The country's imports of automotive parts and components are also likely to increase due to the growing automotive industry. The government's efforts to make Ghana the regional hub for car assembly and enhance car sales in local and regional markets have also attracted investment in vehicle assembly from leading original equipment manufacturers and investment partners. The government has identified vehicle assembly and automotive components manufacturing as a strategic anchor industry, and the Ministry of Trade and Industry has developed a comprehensive package of incentives and policy measures to support the establishment of an automotive assembly and component manufacturing industry. This industry is seen as a new pillar of growth in Ghana. The growth of the automobile sector, however, has been hindered by a lack of financial inclusion in the country. Despite this, both commercial and passenger vehicles are forecast to increase at a healthy rate in Ghana due to the rising vehicle-per-population ratio. The government has also developed an electro-mobility policy to increase the deployment and scale-up of electric vehicles across the country.