The three ventures after manufacturing will distribute their vehicles in the country.
Toyota, Suzuki and CFAO announce a joint venture to produce cars in Ghana
Suzuki Motor Corporation, Toyota Tsusho Corporation, and CFAO have announced a joint venture to manufacture in Ghana.
The officials of these three companies paid a courtesy visit to President Akufo-Addo, on Tuesday, March 19, 2019, at the Jubilee House in Accra and announced their intention.
The General Manager for the Middle East and Africa of Suzuki Motor Corporation, Mr Koyote Suzuki, who led the delegation told President Akufo-Addo that with the company producing some 1.8 million vehicles in India alone, his mission is to find their next India in the continent of Africa.
“Our next phase of growth will come from Africa, but we need to find the right partner in Africa for manufacturing and distribution after the sale of our vehicles.”
Suzuki has partnered with Toyota in Africa, and are currently working in some 26 countries.
The Ghanaian government is planning to roll out a new automotive policy. This has hence triggered these three companies to join in the initiative.
The Suzuki Manager said, “We came to know from Toyota that the Ghanaian government is planning to roll out a new automotive policy. We heard this from Toyota executives who paid a visit here last month. We are highly interested in participating in this initiative by the Ghanaian government. We wish to start production here, grow it and expand it.
Toyota Corporation and CFAO officials also noted that the companies have the largest automotive distribution network in Africa, and have the ambition to contribute to and support further development in African countries.
The President while responding to the officials revealed that his government is interested in developing a vibrant and dynamic automobile industry in Ghana, and has made several initiatives towards that end.
He said, “Finally, I believe we are now ready to outdoor our automotive policy which will enable people like you to know what is available to you in terms of government support, and also the obligations that will be upon you if you enter the Ghanaian space.”
President Akuffo-Addo said “You are very welcome, and it will be very good news for the people of Ghana if they were to hear that Suzuki has teamed up with Toyota Tsusho and CFAO to establish a facility here in Ghana,” adding that, “With Suzuki manufacturing 1.6 litre engine vehicles in India, these are exactly the kind of cars that should have very successful entry into the Ghanaian market.”
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