UK-Ghana auto investor mission for economic transformation

In a landmark initiative to bolster economic collaboration, a delegation of prominent UK auto investors embarks on a trade mission to Ghana from the 22^nd to the 26^th of January 2024.

Organised by the Jobs and Economic Transformation (JET) Ghana team – a UK Government programme dedicated to the creation of Jobs and economic transformation in Ghana, the UK delegation aims to explore investment opportunities, foster partnerships and contribute to the growth of the automotive sector in Ghana.

Africa’s remarkable transformation of its automotive industry sets the stage for further innovation and substantial market growth. Ghana is one of the leading African countries spearheading this growth, and the trade mission confirms Ghana as an important player in the continent. Ghana’s automotive industry, valued at US$4.6billion in 2021, is expected to reach US$10.64billion by 2027.This growth will see increase in job creation, technology transfer, and the enhancement of local manufacturing capabilities.

During the mission, UK auto investors from Comline, Afrivolt, Meridian Generic, Spencer West LLP, and Metfinn plus representatives from the Society of Motor Manufacturers and Traders (SMMT) will engage in high-level discussions with government and key stakeholders on opportunities and partnerships with Ghana.

The mission will include a series of meetings, site visits and networking events, providing a platform for knowledge exchange and relationship-building between UK investors and Ghanaian counterparts. Topics of discussion will include investment incentives, regulatory frameworks, and collaborative initiatives with domestic firms to drive innovation in the auto industry.

The delegation will also participate in a forum highlighting the potential for renewable energy integration within the automotive industry, reflecting a shared commitment to environmental sustainability.

Speaking ahead of the UK-Ghana Auto Investor Trade Mission, Eugene Sangmortey, team leader for JET Ghana, said: “The Auto Investor Trade Mission to Ghana signifies a commitment to fostering economic partnerships and exploring mutually beneficial opportunities. Ghana’s vibrant market and strategic location makes it an attractive destination for UK auto investors seeking to expand their global footprint”.

Harriet Thompson said: “Ghana is an important trade partner for the UK. The economic strides made by Ghana in the auto sector are commendable, demonstrating resilience and potential for growth.  This vibrant sector presents exciting opportunities for collaboration for UK investors. The UK automotive market is estimated at £67billion, and we look to working with Ghana as its scales its ambition into new areas such as component manufacturing, auto technology and electric vehicles.

Matthew Smith, SMMT Head of International, said: “The UK automotive industry is open to international collaboration, with a strong track record of working with partners worldwide. Ghana is committed to developing its own automotive industry, and this mission offers the opportunity for UK companies to understand what the future looks like in one of Africa’s leading emerging markets”.

As the Auto Investor Mission unfolds, it is expected that meaningful partnerships will be realised to drive mutual economic prosperity between the UK and Ghana.

The mission will also pave way for further discussions at the third UK-African Investment Summit 2024, where transformative sectors such as Electric Vehicles and critical minerals will be highlighted as key sector between the UK and its African partners.

JET Ghana

The Jobs and Economic Transformation (JET) in Ghana programme is funded by the UK Foreign, Commonwealth and Development Office (FCDO). It is the UK Government’s flagship investment-led job creation programme that will help Ghana transition away from aid dependence in line with the Government of Ghana’s (GoG) ‘Ghana beyond Aid’ strategy. It seeks to leverage increased investments into Ghana’s strategic manufacturing and industrial sectors, and introduce innovative technology and management capabilities, increasing the skills of the workforce generating formal employment and economic diversification.

The auto delegation

1. Society of Motor Manufacturers and Traders (SMMT)

The Society of Motor Manufacturers and Traders (SMMT) is one of the largest and most influential trade associations in the UK. It supports the interests of the UK automotive industry at home and abroad, promoting the industry to government, stakeholders and the media.

Automotive-related manufacturing contributes £67billion turnover and £14billion value added to the UK economy, and typically invest around £3billion each year in R&D. With more than 182,000 people employed in manufacturing and some 780,000 in total across the wider automotive industry, we account for 10 percent of total UK exports, with more than 150 countries importing UK produced vehicles, generating £77billion of trade.

More than 25 manufacturers build over 70 models of vehicles in the UK, plus an array of specialist small volume manufacturers, supported by some 5,000 supply chain businesses and some of the world’s most skilled engineers.

2. SMMT Industry Forum

Formed in 1996 to improve the performance and effectiveness of the UK’s automotive supply chain, this unique collaboration between the UK government, the SMMT and leading vehicle manufacturers saw experts – master engineers – seconded from founding partners to develop revolutionary new models and interventions for best practice improvement. In 2007, Industry Forum became one of only six agencies qualified to assess Total Productive Maintenance (TPM) under the global excellence benchmark set by the Japan Institute of Plant Maintenance. In 2009, we became the first organisation to offer qualified non-Japanese TPM assessors. Industry Forum is the only UK provider of MMOG-LE Training and also the UK’s only licensed provider of VDA QMC, the German quality management system standard.

3. Comline Auto Parts Ltd.

Comline is one of Europe’s leading automotive aftermarket parts brands, exclusively supplying motor factor and distributor trade partners with an extensive range of own-brand products, with an estimated annual turnover of £75million (2023).

4. Metfinn International

Established in 2013, Metfinn employs 80 people across 2 sites and provides services to OEMs and its subcontractors. Its services include welding, fabrication, surface finishing and assembly.

5. Spencer West LLP

Spencer West LLP is a leading full-service international law firm advising automotive businesses across the UK and globally, with core values of collaboration, entrepreneurship and excellence.

6. Afrivolt Batteries

Afrivolt Batteries is an e-mobility and automotive supplier already based in South Africa and looking to expand into the rest of Africa.

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