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In sub-Saharan Africa, Ghana's vehicle import tariffs are lowest

In sub-Saharan Africa, Ghana's vehicle import tariffs are lowest

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According to Fitch, one of the world's three major international rating agencies, in sub-Saharan Africa, Ghana's vehicle import tariffs are as low as 31%.

"Ghana also boasts a large driving-age population, scoring 62.9 out of a possible 100, which elevates the country's reward potential in the long term and highlights the growth potential for automakers entering its market”, Fitch said in its latest research on “Sub-Saharan Africa Autos Sales: Rewards Remain Too Low to Justify Undertaking Risks."

Mauritius placed first followed by South Africa in second and Botswana in third, taking the top three positions in Fitch Autos Sales Risk/Reward Index (RRI) for the Sub-Saharan region.

However, they struggle to break through into the top 50 countries globally as Mauritius only manages to achieve 69th position.

The strengths of these countries Fitch stated lie in their low risk business environments, developed autos markets, relatively high consumer purchasing power and good quality of road infrastructure

With a Risk/Reward Index score of 37.7, Ghana ranks fourth in the Sub Saharan Africa region and is the fourth lowest risk automotive market in the region and the lowest in the Economic Community of West African States (ECOWAS) sub-region.

The country's strengths Fitch said lie in its overall low risk environment, which outperforms the global average of 50.0, especially in terms of political risk.

Tanzania, Kenya and Uganda followed in 5th, 6th and 7th respectively with Nigeria coming in at 9th.

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