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Business News of Thursday, 30 August 2018


'VW coming to Ghana huge statement to other investors' – Yaw Preko

Deputy Communications Director of the New Patriotic Party, Yaw Preko has lauded the decision by German car manufacturing giant Volkswagen, to establish a vehicle assembly plant in Ghana calling the initiative ‘ a huge statement to the investing world’.

This follows the agreement between the government of Ghana, Volkswagen, as well as a local industry to assemble vehicles as part of Germany’s foreign policy agenda.

This was disclosed at a joint conference today [Thursday] with President Akufo-Addo and the German Chancellor Angela Merkel, in a discussion on her plans to increase investment in Africa to assist development.

In a post shared by the Dep. Communications director, this agreement is one which speaks very well of Volkswagen and should serve as an inspiration to other investors to take steps towards operating in Ghana.

He encouraged investors to take cue from VW, stating that less money would be required to conduct a feasibility study of the target market as this has already been done by German automaker, Volkswagen.

If consummated, this agreement will involve setting up a car manufacturing plant in West Africa which will contribute immensely to the growth of the economy.