Chief Executive of the Minerals Income and Investment Fund (MIIF), Edward Nana Yaw Koranteng, has unveiled a strategic plan to capitalize on the Ghana Automobile Development policy.
The goal is to position Ghana as a key player in electric vehicles (EVs) and battery production in sub-Saharan Africa.
In response to a recent World Bank report advocating for broader EV adoption, Mr. Koranteng underscored the long-term objective of developing EVs and establishing Ghana as a hub for critical minerals and solar batteries.
During discussions with journalists on the sidelines of MIIF’s appearance at the Public Accounts Committee sitting at Parliament House, he highlighted MIIF’s intention to leverage the newly launched automobile policy.
Additionally, they are exploring the lithium reserves in the Central Region of Ghana to advance this initiative.
“MIIF is thinking long term, we are looking at how we can leverage Ghana Automobile Development policy to support the automobile sector into developing EVs, to serve the entire sub-Saharan region. We looking at making Ghana the hub for solar batteries and other batteries, a centre where critical minerals could be studied, so we looking at a full 360.”
He emphasized the value of lithium and graphite and stressed how they could strengthen Ghana’s position as the region’s hub for batteries along with iron ore and manganese.
“This is something that Ghana should invest in, lithium is of security and strategic importance, is the mineral of the future, and is a very important critical mineral”.
“If you take lithium out and look at another critical mineral like graphite that MIIF is seeking to invest in the North, we have iron ore and manganese. All these minerals put together could easily make Ghana the battery hub for sub-Saharan Africa, and this is where the world is transitioning into. The whole de-carbonization agenda rest on minerals like lithium, so we have to pay particular attention to it” he said.