• Kobina Tahir Hammond, Minister of Trade and Industry in an interaction with Sylvia Annoh, Ghana’s Ambassador to Denmark

MoTI signs MoU with Danish company

Joshua Bediako Koomson Business News Nov - 09 - 2023 , 06:15

The Ministry of Trade and Industry (MoTI) has signed a non-binding Memorandum of Understanding (MoU) with a Danish private limited company, Byteblocs International, to explore the opportunity of assembling electric vehicles in Ghana.

The agreement includes the investment and development of an Aluminium Recycling and Components Manufacturing Plant, which will include lithium batteries and LED Lighting.

Signing

The signing ceremony took place when Ghana’s Ambassador to Denmark, Sylvia Annoh, led a Danish business delegation to pay a courtesy call on the Minister of Trade and Industry, Kobina Tahir Hammond.

Mr Hammond signed on behalf of the ministry while Jakob Munkgaard Andersen signed on behalf of Byteblocs.

Both parties agreed that the implementation of the project contemplated by the agreement would be subject to the receipt of all applicable governmental, regulatory and other approvals that might be required as per the laws and regulations of the respective countries of each party and each party’s internal regulations, including but not limited to standards and certification.

Byteblocs

Under the MoU, the Byteblocs will take into consideration sustainable and environmentally friendly production systems, skills development and the transfer of technology to Ghanaians, including partnerships with local suppliers and distributors and training for employees and agents.

The project will also include the setting up of aftersales stations or centres across the country.

Ministry’s responsibility

For its part, the Ministry of Trade and Industry and its agencies, as well as relevant authorities, will assist the project in identifying suitable land for acquisition, as well as offer relevant incentives and regulatory support to the project in line with the relevant policies and laws of Ghana.

The ministry also agreed to assist the company in acquiring residence and working permits in Ghana, including visas for planning and commencement activities.

The MoU will remain in effect for five years, although either party may terminate it at any time by giving the other party 30 days written notice.