Ghanaian business tycoon Ibrahim Mahama has entered into a definitive agreement with Renault Trucks, a member of the Volvo Group, a Swedish multinational manufacturing corporation.
The multimillionaire industrialist is a younger brother to John Dramani Mahama, the immediate past president of Ghana.
Information gathered by Billionaires.Africa revealed the deal will see Mahama, the founder of Dzata Cement, set up an assembly plant in Ghana under the French vehicle manufacturer.
The partnership with Renault Trucks represents Mahama’s first exposure to Ghana’s automotive industry.
Upon the fulfilment of the agreement, the Ghanaian businessman will set up an assembly plant in Ghana and as such become a sales dealer and importer of Renault Trucks.
With Renault’s long history in the automotive industry, experts believe the deal will not only boost operating activities and employment in the automotive industry, but also improve transportation within Ghana’s mining sector.
The partnership with Renault Trucks comes nearly seven months after the Ghanaian industrialist launched his cement company, Dzata Cement, valued at $100 million.
The company is projected to produce 3 million tonnes of cement annually for the local and continental markets.
Its current production capacity is 1.2 million. However, a subsequent upgrade in its manufacturing line will see it ramp up production to 3 million tonnes of cement and clinker products annually.
Aside from his business interest in Dzata Cement, Mahama is the owner of West Africa’s largest indigenous mining company, Engineers and Planners.
The Ghana-based mining company employs more than 4,000 workers on the Damang and Tarkwa mines owned by South African mining giant, Goldfields.