Automobile industry to be Africa’s hub: a substitution to imports –Ofori-Atta
Government intends to use the development in the automobile industry as a catalyst for import substitution and exports of Ghanaian products within the African region. Speaking at the Mid-Year Policy Review in Parliament, Finance Minister said the automobile industry is considered by government as a strategic anchor and one that has the potential to transform the economy. “Ghana is well positioned to become the new automobile manufacturing hub in Africa”, Ken Ofori-Atta stated. Giving details on the sector, he said “the Ministry of Trade and Industry policy on Industrial Transformation Agenda is a significant step towards import substitution and to boost exports within the context of the African Continental Free Trade Area (AfCFTA)”. The introduction of a comprehensive Automotive Manufacturing Development Policy, government sources say, have attracted leading global automobile companies to the country and there’s more to come. During the last week launch of the Volkswagen collaboratio