Ghana Bans Import of Cars Older than 10 Years to Draw Automakers
- The move paves way for companies like VW and Nissan to invest
- Restrictions to cost about $143 million in customs revenue
Heavy automobile traffic passes by Makola market in Accra.
Photographer: Nicholas Seun Adatsi/BloombergThis article is for subscribers only.
Ghana banned the importation of cars older than 10 years to encourage international companies including Volkswagen AG and Nissan Motor Co. to set up local plants in the West African country.
The new law also provides import-duty rebates for companies that manufacture or assemble cars in Ghana, according to the act of parliament obtained Thursday by Bloomberg. The embargo will take effect six months after the manufacturing or assembling of new vehicles in Ghana begin under a special government program meant to draw investment.