TEMA, Ghana, 15th September: President John Dramani Mahama says government will collaborate with financial institutions and vehicle manufacturers to develop long-term financing arrangements that will enable more Ghanaians to purchase locally assembled vehicles.
He said the initiative would target workers such as doctors, teachers, nurses and other employees who may be unable to afford the full cost of a vehicle through conventional financing arrangements.
President Mahama made the announcement on Tuesday, September 15, 2026, at the commissioning of Phase Three of the Zonda Tec Ghana Limited Vehicle Assembly Plant in Tema.
He said increasing local vehicle assembly must be accompanied by measures that make locally produced vehicles accessible to Ghanaian consumers.
“I also want to talk about product financing. It is good to assemble vehicles locally, but we must also create the financial instruments that allow Ghanaians to purchase them,” President Mahama said.
He explained that government is prepared to work with manufacturers, banks and other private-sector players to develop long-term financing products.
Under the proposed approach, eligible workers could acquire vehicles and repay the cost over an extended period through deductions from their salaries.
The President said such financing would help expand the domestic market for vehicles assembled in Ghana while supporting the growth of the local automotive industry.
His comments come shortly after Zonda Tec organised an Auto Sales Expo in Accra, where prospective vehicle buyers were brought together with financial institutions and offered flexible financing arrangements.
President Mahama said such initiatives are important because the success of Ghana’s automotive industry would depend not only on production but also on the ability of consumers to purchase locally assembled vehicles.
He said the government’s automotive strategy is aimed at reducing Ghana’s dependence on imported vehicles, conserving foreign exchange and creating jobs.
The President said the expansion of the Zonda Tec facility would significantly increase employment, with direct employment expected to almost double and about 1,000 additional indirect jobs created across logistics, maintenance, component supply and distribution.
He also linked the development to government’s broader industrialisation agenda and the 24-Hour Economy Programme.
President Mahama said the objective is to create an ecosystem in which manufacturing, financing, local component production and distribution work together to generate sustained economic activity.
He urged banks and other financial institutions to work with vehicle manufacturers to develop innovative financing products that would support the government’s drive to promote locally assembled vehicles.
According to the President, making locally assembled vehicles more affordable and accessible would strengthen demand and help ensure that Ghana’s expanding automotive manufacturing capacity translates into broader economic benefits.
Story by: Emmanuel Romeo Tetteh(#RomeoWrites✍️)/ Presidential Affairs Correspondent | Ghana 🇬🇭