Ghana’s Automotive Market

The automobile sector of Ghana has been a driver of growth of the country as it is one of the most visible sectors to receive foreign investment. Ghana is a multicultural and ethnically diverse West African nation and is the 9th largest African economy.

On the Ibrahim Index of African Governance, Ghana ranks as the 7th best economy in Africa, which implies a relative safety of foreign investment in the region. Also, Ghana ranks relatively high in the ease of doing business index and also has an extremely high freedom of press rating, which makes it a good emerging market to invest in.

Some of the popular car brands in the region are Toyota, Mercedes Benz, Mitsubishi, KIA, Nissan, Hyundai Volkswagen, Renault among others.

Ghana’s manufacturing industry gets good support from the local government which has enabled it to become one of the 40 fastest growing industrial productions in the world. Industry currently accounts for a quarter of the GDP but by 2021 it is expected to account for at least 30% of the GDP and the main driver for the growth will be the automobile industry.