CADEG invites South Korean firms to invest in local EV production

The Chamber of Automobile Dealership Ghana (CADEG) is making a strategic push to attract South Korean investment into the nation's burgeoning automotive industry. Speaking at the Ghana-Korea Business Forum 2026, CADEG President Obrempong Nana Adu Bonsu Agyekum Prempeh highlighted the significant potential for deeper collaboration in electric vehicle (EV) technology and automotive component manufacturing. This initiative aims to leverage Ghana's growing industrial base to establish the country as a regional hub for smart mobility and sustainable transport.

The call for investment focuses on expanding local production capacity through partnerships with established Korean brands like Hyundai and Kia, which already maintain a presence in the Ghanaian market. Obrempong Prempeh specifically pointed to the opportunities created by the Ghana Automotive Component Manufacturing Policy as a key incentive for international firms. This policy provides a structured framework for foreign investors to engage with local enterprises, facilitating the transfer of technology and the creation of skilled jobs within the domestic workforce.

Highlighting Ghana’s political stability and positive economic outlook under the administration of President John Mahama, the CADEG President urged Korean investors to look beyond simple vehicle assembly. He emphasized that the global shift toward electric vehicles requires significant infrastructure development and specialized technical expertise that South Korean firms are well-positioned to provide. By focusing on the production of essential parts within Ghana, the chamber hopes to build a more resilient and self-sufficient industrial sector.

This move is expected to strengthen bilateral economic ties and reduce the nation’s reliance on imported vehicle components. By fostering a robust local supply chain, CADEG aims to lower overall production costs and make new vehicles more affordable for the Ghanaian public. As the government continues to implement manufacturing-friendly policies, industry leaders believe these international partnerships will serve as a vital catalyst for a technologically advanced automotive ecosystem.