Strong foundation laid for Ghana’s auto industry – Prof. Turkson

An economist at the University of Ghana, Prof. Ebo Turkson, says Ghana’s automotive assembly industry has made steady progress despite facing several economic and global challenges since the introduction of the country’s Automotive Development Policy.

Speaking at the Citi Business Festival 2026 on Thursday, June 25, on the theme “Driving Ghana Forward: The State of the Automotive Assembly Industry and Its Contribution to the Economy,” Prof. Turkson said the sector has established a solid foundation for future growth.

According to him, while some may view the pace of development as slow, industrial transformation is a long-term process that requires patience and consistency.

“Let me start by saying that a strong foundation has been laid for that industry. The depth is shallow, no doubt about it, but the sort of structural transformation that we need in a country like Ghana will take a while,” he said.

He noted that the industry has had to navigate several setbacks, including the disruptions caused by the COVID-19 pandemic, economic challenges, and exchange rate instability, all of which affected the importation of vehicle parts needed for local assembly.

Prof. Turkson explained that these factors slowed the industry’s expansion despite the policy being in place for seven years.

“When the policy started, COVID hit and dislocated the whole economy. We also know the story of where Ghana has come from, the recent crisis and all of that. The exchange rate itself was not too stable to encourage the importation of parts to come and assemble,” he stated.

Despite the challenges, he expressed optimism about the industry’s prospects, citing improvements in macroeconomic stability in recent years.

“While it is seven years, I think the stability that is there now since 2024, relatively, should support their expansion,” he added.

His comments come amid ongoing discussions about the future of Ghana’s automotive assembly sector, with industry players calling for stronger policy support and sustained commitment to drive growth and industrialisation.