• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Ghana imports 100,000 vehicles annually, dominated by used cars worth $1.14bn

2 years ago
in Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
186
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana imports 100,000 vehicles annually, dominated by used cars worth $1.14bn

According to a report by Deloitte, Ghana annually imports approximately 100,000 vehicles, with an overwhelming 90% being used cars, amounting to an estimated value of USD 1.14 billion.

The United States, Japan, and Germany have emerged as key suppliers in this thriving market, as revealed in the Deloitte report on Ghana’s automobile industry.

While the automobile industry currently constitutes a significant quarter of the nation’s GDP, it had been anticipated to account for an even more robust 30% share last year.

Despite these fluctuations, the Ghanaian automobile production sector has benefited from substantial government support, positioning it among the 40 fastest-growing commercial productions worldwide.

In its quest to foster local manufacturing facilities, the Government of Ghana seeks to attract investment in vehicle assembly from prominent original equipment manufacturers (OEMs) and investment partners.

In a bid to bolster domestic production and create employment opportunities within the sector, the government introduced a new policy in 2019, aiming to prohibit the importation of vehicles older than ten years. However, the implementation of this policy is currently underway, with the Finance Minister in consultation with the Minister for Trade and Industry soon to specify the final date for ceasing the importation of such vehicles.

RelatedPosts

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

Aligning with its pro-growth agenda, the government has further offered tax incentives to entice investment inflows into the burgeoning automobile industry.

Despite the regulatory progress and government backing, the automobile sector faces multifaceted challenges. Ghana remains committed to nurturing the industry’s potential for local manufacturing and boosting its contribution to both the economy and job market.

As the sector navigates shifting import dynamics and policy frameworks, market observers and investors keenly monitor the industry’s evolution, anticipating further developments and growth opportunities.

Tags: 000 vehicles annuallyDeloittedominated by used cars worth $1.14bnghanaGhana imports 100original equipment manufacturers (OEMs)
No Result
View All Result

Highlights

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

Trending

Features

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

MTN Nigeria Now the Most Capitalized Stock in Nigeria MTN Nigeria has surged to become the most...

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.