Toyota joins the list of companies to snub Nigeria for Ghana
Toyota joins the list of companies to snub Nigeria for Ghana.
Toyota, a Japanese multinational automotive manufacturer opened an assembly plant in Ghana, joining a growing list of international brands who are choosing Ghana over Nigeria for business.
While this is great news for Ghana, it shows a changing dynamic in West African economics as Nigeria has for years been the economic giant of West Africa.
The plant, which was established to assembly Toyota Hilux pick-up and other sedans by the Toyota Tsusho Manufacturing Company Limited, is located in the Freezones Enclave in Tema.
President Akufo-Addo of Ghana commissioned the plant yesterday (Tuesday, June 29, 2021), saying the development will help make the acquisition of new vehicles by Ghanaians more affordable as well as enable public sector workers to be able to afford and purchase locally assembled vehicles.
“Government will continue to create the enabling environment to boost the profitability of the emerging automobile sector in Ghana,” he was quoted as saying.
Toyota is not the only company, in 2020, Twitter announced that they were setting up an office in Ghana instead of Nigeria. The news surprised many although in hind sight was the best decision as Twitter was soon banned in Nigeria (it is currently still banned).
Pulse which was originally based in Nigeria quickly uprooted its headquarters to Ghana and are currently still headquartered in Ghana.
In 2021, manufacturers of the covid vaccine decided to set up manufacturing in Ghana over Nigeria.
This continues Ghana and Nigeria’s largely friendly although somewhat economic war, stemming from the Jollof wars and of course Nigeria vs Ghana showdown after cardi performed in both countries in 2019, read about that here.
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Original story/ Image credit: tribune online ng