Nissan to Establish Manufacturing Industry in Ghana
Government has signed a Memorandum of Understanding (MoU) with Nissan Group of Africa for the establishment of an automotive manufacturing industry in Ghana.
The agreement seeks to make Ghana the hub for sales and marketing of Nissan in West Africa.
This, was announced yesterday, when the Managing Director of Nissan Group of Africa, Mike Whitfield, paid a courtesy call on President Akufo-Addo.
Speaking after the signing, Mr. Whitfield said his company aims to be the first carmaker to assemble vehicles in Ghana, building on its market leadership in the country.
Nissan models, he explained, accounted for 32.8% of vehicle sales in Ghana last year, with the company’s cars, pickups and SUVs sold through a national network of six sales and service outlets.
“Nissan is the most popular auto brand in Ghana because the quality of our products and services has won the trust of our customers,” he said.
He continued, “We want to build on our leadership by supporting the government to create the environment for a successful automotive manufacturing industry in the country. Building vehicles in Ghana will enable us to further improve the products and services we offer to our customers here and will have significant, long-term benefits for the economy in terms of jobs and growth.”
In welcoming the decision, President Akufo-Addo said his administration is embarking on a journey on moving the country away from being mere producers and exporters of raw materials, with a focus on value-addition and industrial activities.
One of the areas of focus, he stressed, was the automotive industry, the reason why his administration has spent the last 22 months strengthening the fundamentals of the Ghanaian economy to attract such investment.
“To have at A+ company like yours in Ghana is positive, and we welcome you strongly. We hope that the MoU that will be signed will not just remain an MoU but will translate into concrete benefits for us all,” he said.
The MoU seeks to unlock economic potential, promote development of the automotive sector and promote investor-friendly regulatory frameworks that encourage sustainable car manufacturing. The aim is to promote infrastructure development, job creation and skills development in Ghana.
About Nissan Motor Co., Ltd.
Nissan is a global full-line vehicle manufacturer that sells more than 60 models under the Nissan, INFINITI and Datsun brands. In fiscal year 2017, the company sold 5.77 million vehicles globally, generating revenue of 11.9 trillion yen.
On April 1, 2017, the company embarked on Nissan M.O.V.E. to 2022, a six-year plan targeting a 30% increase in annualized revenues to 16.5 trillion yen by the end of fiscal 2022, along with cumulative free cash flow of 2.5 trillion yen.
As part of Nissan M.O.V.E. to 2022, the company plans to extend its leadership in electric vehicles, symbolized by the world’s best-selling all-electric vehicle in history, the Nissan LEAF.