Ghana, UK to explore opportunities in EVs

British High Commissioner Harriet Thompson has expressed the UK’s readiness to collaborate with Ghana to advance electric vehicles (EVs).

“We are thinking about it in the long term¸” the High Commissioner said at an auto investor reception at her residence in Accra. She added: “We are not only here thinking about what are the opportunities today, but we are also very much interested in how the sector is going to evolve over the next five to ten years. And of course, electric vehicles have to be in that mix”.

The event brought together a delegation from the UK auto industry and their domestic counterparts.

Ghana launched its EV policy at the 28^th Conference of the Parties (COP28) to the UN Framework Convention on Climate Change (UNFCCC). Commenting on the policy, Ms. Thompson said there are opportunities for collaboration between Ghana and the UK.

To this end, she noted that the visit of the trade mission from the auto sector in the UK to Ghana forms part of the groundwork to explore such opportunities.

The advent of the African Continental Free Trade Agreement (AfCFTA), she said, further adds more momentum to the country’s endeavours, creating a conducive environment for collaboration and market expansion.

She added that the efforts are not only limited to the auto sector but also the textiles and garments sector, as well as the pharmaceutical sector. The plan is to work with domestic businesses and companies, supporting them in undertaking market research.

The UK-Ghana auto investor mission was organised by the Jobs and Economic Transformation (JET) Ghana team to bolster economic collaboration.

The delegation sought to, among other things, explore investment opportunities, foster partnerships and contribute to the growth of the domestic automotive sector.

The domestic automotive industry was valued at US$4.6billion in 2021 and is expected to reach US$10.64billion by 2027.

This growth will see an increase in job creation, technology transfer and enhancement of domestic manufacturing capability.

Addressing the delegation and some local business dignitaries, Ms. Thompson said Ghana is an important trading partner for the UK, with bilateral trade in goods and services estimated at some £2.1billion, and projected to increase in the coming years.

The Team Lead of JET, Eugene Sangmortey, said his outfit is looking to establish strong partnerships with UK and Ghana automotive and allied sector players.

He, therefore, insisted that the trade mission afforded both parties an opportunity to explore mutually beneficial opportunities.

The International Head of the Society of Motor Manufacturers and Traders (SMMT), Matthew Smith, reckoned that the engagements with the Government of Ghana are expected to lead to the development of policies to support the growth of the automotive sector.

The trade mission sets the stage for discussions at the upcoming third UK-African Investment Summit 2024, where issues relating to EVs and critical minerals will be key highlights.

Dr. Alastair McPhail, the Envoy of the UK-African Investment Summit, indicated that 25 invited African countries are expected to participate in the summit.

“Africa is a continent with a young population full of potential; so, it only makes sense for the UK to play our part in unlocking that potential and building partnerships,” he stated.

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