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    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

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    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

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    We’re not charging E-levy on merchant accounts – GRA

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    AfCFTA Secretariat calls for accelerated dev’t for key infrastructure in Africa to boost trade

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

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    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

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    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

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    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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Volkswagen unveils four locally assembled models in Ghana

byMichael Ogbodu
August 4, 2020
in Local Economy, Top Stories
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German car maker, Volkswagen, has unveiled its first locally assembled cars, following the establishment of the VW Assembly Plant in Ghana.

The four locally assembled models include Passat, Tiguan Highline Plus, Teramont and the Amarok.

Speaking at the launch of the cars, Chief Executive Officer of Universal Motors, the company managing Volkswagen’s local assembly plant, Subhi Accad, indicated that  his outfit is committed to ensuring premium quality.

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“We understand the magnitude of task and challenge ahead of us particularly the stringent assembly processes and also the high-quality standards associated with the Volkswagen brand. We undertake and promise to live up to expectations”, he said.

The cars have a starting price of about 60,000 Ghana Cedis. The Chief Executive Officer of Volkswagen Ghana, Jeffery Oppong Peprah, explained why it is better to acquire these cars locally than to import them.

“The VW Tiguan we have here, in Europe you could have bought it for about 37,000 Euros, but here we selling it berween 32 and 34,000 Euros…”, he stated.

Government earlier this year set out to ban the importation of used vehicles that are older than 10 years old as well as salvage cars, otherwise referred to as ‘Accident Cars’ in Ghana.

As part of its plans, it has passed the Customs Amendment Bill, 2020, which is set to be fully implemented from October this year, despite resistance by car dealers in the country.

Government is set to lose about GHS802 million over the next three years when the law takes full effect.

The law is in line with government’s Ghana Automotive Manufacturing Development Programme, which seeks to provide incentives for automotive manufacturers and assemblers registered under the programme.

Speaking at the ceremony to unveil the cars, President Akufo-Addo said government is committed to the success of the programme.

“I assure Volkswagen Ghana that the government will continue to support the company in diverse ways to ensure the sustainability and profitability of this venture in Ghana.  To this end, the Chief of staff at the office of the President has issued recently, a new directive to all ministries departments and agencies and indeed to the Public Procurement Authority  to give first preference to the acquisition of locally assembled vehicles  when public funds are used to buy vehicles”, he added.

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