Ghana to Draw Up Auto Policy in Pledge With Nissan Over Plant

(Bloomberg) -- Ghana pledged to draw up a policy that will govern a future automotive sector in an agreement with Nissan Motor Co. Ltd. in which the Japanese vehicle manufacturer undertook to open an assembly and manufacturing plant.

The West African nation is luring automakers to set up factories in the country and has signed agreements with Volkswagen AG and China's Sinotruk International in the last three months. The government of President Nana Akufo-Addo seeks to diversify sources of growth after revenue from new oil fields accelerated economic expansion to 8.1 percent in 2017.

The auto policy will be in place before the end of the year, Trade and Industry Minister Alan Kyerematen told reporters Tuesday in the capital, Accra.

“We see Ghana as the gateway to the rest of the West African region,” Nissan Group of Africa Managing Director Mike Whitfield told reporters. “We will be the first to start an assembly plant and car manufacturing in Ghana.”

Nissan has three assembly plants in Africa, including Egypt, Nigeria and South Africa.

To contact the reporter on this story: Ekow Dontoh in Accra at edontoh@bloomberg.net

To contact the editors responsible for this story: Andre Janse van Vuuren at ajansevanvuu@bloomberg.net, Jacqueline Mackenzie

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