Investment Facilitation in Ghana

The Project at A Glance

The Government of Ghana aims to establish the country as Africa’s new manufacturing hub. To achieve this, the Ministry of Trade and Industry is executing a ten-point Industrial Transformation Plan, which also includes a detailed program for developing automotive assembly and component manufacturing.

In this context, International Economics (IEC) is helping to promote the Ghana Auto Development Programme to the UK auto industry, developing business cases, and organizing investment missions to Ghana with a goal to foster cooperation between the sectors and attract UK auto company investments.

The project is implemented under the Jobs and Economic Transformation in Ghana (Ghana JET) Programme funded by the UK Foreign, Commonwealth and Development Office (FCDO) and led by the Palladium International Limited.

What We Found

The Ghana JET Programme is FCDO Ghana’s flagship investment-led job creation programme, which seeks to leverage increased investments into Ghana’s strategic manufacturing and industrial sectors, and introduce new technology and management capabilities, increasing the capabilities of the workforce generating formal employment and economic diversification. One of Ghana JET Programme priorities is to support Ghana in the effective implementation of the Ghana Automotive Industry Development Programme and to facilitate investments into the automotive sector – as one of the strategic anchor industries – targeted to create new growth poles in the Ghanaian economy for significant job creation through integration into global supply chains and the development of local content suppliers.

IEC is supporting the Ghana JET team in raising awareness of the Ghana Auto Development Programme within the UK auto industry. Our team will develop business cases and assist with organization of investment missions to Ghana, aiming to establish a cooperative partnership between the two sectors and attract investment from UK auto companies. This initiative is expected to create new and highly skilled jobs.

Our Strategy and Impact

Ghana and the broader sub-region’s dynamic auto sector offer numerous commercial and partnership opportunities for the UK auto industry. As part of this project, our team lead the organisation and hosting of a webinar with participants from target locations including the UK and Ghana, showcasing the developments in Ghana’s automotive sector. The objective was to attract potential investors to participate in a Ghana Automotive Investor Mission for UK investors. The exploratory mission was organised in January 2024 and its aim was to showcase opportunities within Ghana and West Africa’s emerging automotive industry and supply chain. Ghana’s recent industrial policy focuses on becoming the hub for manufacturing and assembling automobiles in West Africa. Since the Ghana Automotive Development Policy was introduced in 2019, the country has attracted several local and international car manufacturers to establish assembly plants, leveraging Ghana’s skilled workforce, tax incentives, and the region’s growing demand for reliable new vehicles. The program of this mission included high-level policy dialogues with the Ghanaian Government and AfCFTA, as well as engagements with established and promising automotive distributors and companies in Ghana that have a pipeline of deals.

Our Core Solutions

As businesses seek to expand operations into new markets, the need to explore global supply chains and understand the international regulatory framework becomes crucial to competitively expand into new product/service lines and markets, reduce costs, increase revenue and reduce portfolio risks.

At International Economics Consulting, we build tailor-made strategies for both import and export-oriented business solutions. We carry out sensitivity analysis, and prepare detailed resource scheduling and standard performance dashboards to track the implementation process and financial ratio performance of your products and services. We can also work on corporate leadership and change management strategy. Finally, we develop the analytics and risk matrices and use our cognitive computing insights to update these in real-time.