GHANA – Toyota Tsusho Corporation has announced the establishment of Toyota Tsusho Manufacturing Ghana Co. Limited (TTMG), a vehicle production company, and acquired a license for a vehicle assembly business, a first for a Japanese company in Ghana.
The new plant will be constructed in Tema (30 km from the capital city of Accra) at an investment cost of approximately US$7 million, and there are plans to hire approximately 50 new employees. Preparations are underway to commence operations in mid-2021.
The planned production capacity of the new plant is 1,300 units annually, and the plant is going to conduct SKD production of the Toyota Hilux pickup truck.
Toyota Tsusho took overall business and operations in Africa from Toyota Motor Corporation in January 2019 and has been reinforcing initiatives in Africa.
The planned production capacity of the new plant is 1,300 units annually, and the plant is going to conduct SKD production of the Toyota Hilux pickup truck.
With the establishment of TTMG, Toyota Tsusho Group will have vehicle production sites in five African countries following Kenya, Egypt, Nigeria, and Rwanda.
In addition to engaging in the automobile sales business, Toyota Tsusho will perform local production tailored to market needs, contributing to the development of the automobile industry in Africa.
This project is being implemented pursuant to the Memorandum of Understanding regarding a partnership for the development of the automotive industry executed by Toyota Tsusho and the government of Ghana at the Seventh Tokyo International Conference on African Development (TICAD7), which was held in Yokohama in August 2019.
In 2019, Toyota was set to start a new car assembly plant in Ghana. The company signed a deal with the Ghanaian government allowing it to establish an assembly plant in the country.
The deal was signed in Yokohama, Japan, in the presence of Ghana’s president, Nana Akufo-Addo.
According to Toyota Tsusho’s President and CEO, Ichiro Kashitani, the automobile multinational will establish a Toyota and Suzuki assembly plant in the West African nation.
President Nana Akufo-Addo said that the deal with Toyota Tsusho was in line with his government’s vision of making Ghana an automotive hub for West Africa and the larger African market.
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