Implement auto policy to boost industry — Expert

Players in the automobile industry have called for a full implementation of the Ghana Automotive Development Policy (GADP) to help position the country as a manufacturing leader in West Africa.

The GADP aims to transform Ghana into a fully integrated and competitive West African auto industry hub. 

The policy offers incentives like corporate tax holidays, import duty exemptions, and attractive financing schemes to boost investment and job creation.

During a forum organised by the Ghanaian German Economic Association (GGEA) in Accra yesterday (June 19), the Chief Executive Officer (CEO) of Universal Motors, Subhi Accad, said although Ghana now boast of car assembly plants, the automobile industries in many other countries in West Africa were making a lot of progress. 

Taking  Côte d’Ivoire for instance, he said the market had grown to 40,000 cars per year while the Ghanaian market had shrunk to 6,000 cars a year since the establishment of the assembly plant.

He said the  difference was that Côte d’Ivoire  had correct taxation system while their economy was stable and had a  interest rate. 

“You can go to bank in Côte d’Ivoire and pay an interest rate of 8 to 10 per cent against 40 per cent in Ghana and we’ve been in this dilemma for a very long time.

A lot of people in Côte d’Ivoire can afford to buy a car because of the stability in the currency.