Jospong distributes Vinfast e-cars in Africa

The Jospong Group of Companies has secured a deal with a foreign partner to plan and deploy public charging infrastructure across the country to support electric vehicle penetration. 

The deal is part of a partnership agreement struck with VinFast Auto, a Vietnamese electric vehicle pioneer, and announced by the Ghanaian multi-industry conglomerate operating across West Africa.

The deal also makes Jospong Group the distributor of VinFast’s entire range of vehicles, including electric cars, e-scooters, e-bikes and electric buses, in Ghana and the African market.

In addition to the announced distribution agreement, Vingroup — a leading private multi-industry conglomerate in Vietnam and parent company of VinFast — has signed a Memorandum of Understanding (MoU) with Jospong Group to work together to identify and pursue business opportunities in areas of mutual interest, including electric vehicles, taxi operations, public transportation solutions, education, hospitality and real estate development.

Upon striking the agreement, the Executive Chairman of Jospong Group, Dr Joseph Siaw Agyepong, said the agreement positioned the Jospong Group as a major stakeholder in sustainable transportation he added.

The Chief Operation Officer of VinFast North America, Steve Tran, said: “Ghana and West African electric vehicles market is poised to grow, and we're honoured to be at the forefront of this revolution alongside a leading Ghanaian corporation”.

“Together, we're committed to building a sustainable future for Ghana by providing a comprehensive electric transportation ecosystem, from bicycles and cars to buses, with flexible sales, ensuring everyone can join the clean transportation revolution,” he added.

Dr Joseph Siaw Agyepong and other officials inspecting one of the vehicles

Indeed, for Vingroup and VinFast, the strategic collaboration with Jospong Group could present an opportunity to cement their foothold in the region's electric vehicle market and emerge as frontrunners in the broader sustainable transportation industry.

The electric vehicle market in Ghana and West Africa is poised for significant expansion, driven by burgeoning demand and government initiatives aimed at achieving net-zero emissions in the transportation sector.

Ghana’s government envisions a future landscape where a substantial portion of gas stations will be repurposed to cater for sustainable transportation alternatives such as electric vehicles by 2040.

The country recently launched an Energy Transition Framework under the National Electric Vehicle Policy with the objective of decarbonising the energy sector.

The framework, spanning 2022–2070, is to work in conjunction with existing initiatives and introduce additional measures — including enhancing the penetration of renewable energy sources, transitioning thermal plants to natural gas and integrating nuclear power into the energy mix — to achieve this goal. 

Context

The agreement could aid Ghana’s commitment towards the implementation of measures to effectively address climate change and mitigate its effects on humanity.

It has been stressed that if no rapid action is taken to address climate change and its negative impact now, the future cost will be prohibitive and counterproductive to current socio-economic gains.

Electric vehicles, therefore, present excellent opportunities for Ghana to accelerate its development, and promote sustainable pathways.

The National Electric Vehicle Policy is expected to play a crucial role in promoting the widespread adoption of electric vehicles.

The 2024 Budget Statement consequently removed import duties on the importation of electric vehicles and their components.

In accordance with Article 4 of the Paris Agreement and other relevant international protocols, Ghana has updated its Nationally Determined Contributions (NDCs) under the Agreement.

These updated NDCs cover the period from 2020 to 2030 and take into account Ghana's specific circumstances.

The energy and transport sectors are widely recognised by the country as crucial areas for mitigating emissions, hence efforts to promote the transition of these two sectors towards a future characterised by net-zero emissions.

This would ensure that Ghana contributes her quota to the reduction of global greenhouse gas emissions, achieve decarbonisation, energy access and security, and energy efficiency.

“The collaboration with VinFast portrays the Jospong Group’s commitment to deliver green and smart solutions in its businesses, be it waste management or transportation, for customers within the African region and worldwide,” he added.

Jospong Group operates across 14 different sectors with a network of over 60 companies. 

The group has a strong presence in the automobile, waste management, ICT and banking industries.

Dr Siaw Agyepong further stated that "the Vingroup's commitment to a green revolution, particularly through their innovative electric vehicle ecosystem and VinFast's diverse offerings, aligns with the Group’s mission of improving the lives of people through innovation, sustainability and empowerment.

We are thrilled to partner with Vingroup and VinFast on their global journey, working together to build a more sustainable and beautiful future for all”.

“This partnership is inspiring,"