By Godwill Arthur-Mensah
Accra, January 31, GNA – Government has signed a series of Memoranda of Understanding (MoU) with the Society Motor Manufacturing and Traders’ Auto Development Center (SMMT) of the United Kingdom (UK) to explore opportunities in Ghana’s automotive industry for their mutual cooperation benefits.
The agreements will facilitate companies to invest in cars, including investments in electric vehicles (EVs).
There was also an MoU on Science, Technology and Innovation, which would lead to economic prosperity through science and technology.
The MoU was signed during the ninth meeting of the UK-Ghana Business Council (UKGBC) held at Jubilee House in Accra on Wednesday.
It would ensure the pursuit of skills, knowledge and technology transfer between the UK SMMT and the Ghanaian automotive industry.
Mr Ashley Fernihough, CEO, UK SMMT, signed for the UK Government, while Dr Kwaku Afriyie, Minister for Environment, Science Technology and Innovation, signed for Ghana.
The agreement was attended by the Vice President of Ghana, Dr Mahamudu Bawumia and Mr Andrew Mitchell, UK Secretary of State, Development and Africa.
During the meeting, members of the UK-Ghana Business Council discussed some global climate finance architecture.
They welcomed Ghana’s commitment to unlocking climate finance to support a pipeline of climate impact activities in areas such as carbon finance mixes, electric vehicles, shipping and the hydrogen economy.
The Council welcomed the UK’s announcement of the Green Cities and Infrastructure Technical Assistance Program for Ghana.
The program will focus on providing climate finance, low-carbon, climate-resilient infrastructure and supporting cities to become innovation hubs while fostering sustainable economic growth.
Council members also welcomed the successful automotive investor mission, which took place from 22 to 26 January 2024.
The event brought together leading UK automotive companies to explore opportunities in the Ghanaian sector.
In this context, Council members agreed to work together to identify opportunities to support Ghana’s industrial transformation in the automotive and e-mobility, pharmaceutical and apparel sectors.
The Council welcomed the signing of the Memorandum of Understanding (MoU) between the UK Society Motor Manufacturing and Traders’ Industry Forum and the Department of Trade’s Automotive Development Center agreeing to pursue skills, knowledge and technology transfer partnerships as part of the JET programme.
Members celebrated the first investments in Ghanaian businesses by British International Investment’s Growth Investment Partners Fund.
The co-chairs of the meeting recognized the significant progress the Council had made since its inception in 2018.
Council members agreed to continue to progress work in the UKGBC’s priority areas to deepen the UK-Ghana relationship, while exploring other areas such as climate finance and electric vehicles.
The next meeting of the UKGBC will be held in the summer of 2024.
GNA