CADEG President Pushes for Korean Investment to Expand Ghana's Automotive Industry

Ghana, through the Chamber of Automobile Dealership Ghana (CADEG), is seeking increased investment from South Korean businesses in automotive component manufacturing, electric vehicle technology, and smart mobility as it positions itself as a key automotive hub in West Africa.

The President of the Chamber of Automobile Dealership Ghana (CADEG) and Group Chief Executive Officer of Nabus Motors, Obrempong Nana Adu Bonsu Agyekum Prempeh, said Ghana's automotive assembly programme and the government's approval of the Ghana Automotive Component Manufacturing Policy present significant opportunities for Korean investors to expand their footprint in the sector.

Speaking at the Ghana-Korea Business Forum 2026 held at the La Palm Beach Hotel in Accra on Thursday, November 5, he urged Korean businesses to explore partnerships with local enterprises to strengthen Ghana's automotive value chain.

He identified component manufacturing, technical equipment supply, and spare-parts distribution as key areas where Korean technology and machinery could support Ghanaian suppliers in meeting global manufacturing standards and securing supply contracts.

"Component production, technical equipment and spare-parts distribution deserve close attention. We should examine where Korean technology and machinery can help Ghanaian suppliers meet manufacturing standards and compete for supply contracts, while assessing costs and demand carefully," he said.

Obrempong Nana Adu Bonsu Agyekum Prempeh noted that Hyundai and Kia are already participating in Ghana's vehicle assembly programme, creating an existing bridge between Korean businesses and Ghana's industrial development agenda.

According to him, the next phase should focus on deepening that involvement through investments that enhance local production capacity and create new opportunities for Ghanaian businesses.

Focus on Electric Vehicles and Smart Mobility

He also highlighted electric vehicles (EVs), hybrid technology, and intelligent mobility solutions as emerging areas for cooperation, stressing that successful adoption would require significant investment in charging infrastructure, technical training, and after-sales service capacity.

He called for technology transfer and skills development programmes that would enable Ghanaian engineers, technicians, and entrepreneurs to participate meaningfully in the transition while creating sustainable, high-skilled jobs.

Strengthening After-Sales Services

Obrempong Nana Adu Bonsu Agyekum Prempeh further stressed that the success of investments in Ghana's automotive sector would depend heavily on the quality of services available to consumers, including reliable spare parts, skilled technicians, and effective after-sales support.

"A vehicle purchase begins a relationship that may last many years. Investment in dealerships, workshops and trained technicians will help protect that relationship and the reputation of every participating brand," he said.

Ghana's Investment Appeal

The CADEG President also highlighted Ghana's political stability and economic prospects as key factors that could boost investor confidence.

Citing Freedom House's 2026 assessment, he noted that Ghana was classified as "Free" with a score of 80 out of 100 for political rights and civil liberties.

He also referenced the World Bank's August 2026 Ghana Economic Update, which reported real GDP growth of 6.0 per cent in 2025, while underscoring the importance of continued fiscal discipline and economic reforms.

Obrempong Nana Adu Bonsu Agyekum Prempeh said the Ghana Investment Promotion Authority (GIPA) stood ready to support prospective investors through business establishment services, investor aftercare, grievance resolution mechanisms, and access to opportunities under the African Continental Free Trade Area (AfCFTA).

He encouraged the Korean delegation to engage directly with Ghanaian businesses, suppliers, and potential technical partners to identify viable projects and establish practical investment partnerships.

"Let us leave this forum with clear priorities, responsible counterparts and a timetable for the next discussions," he added.