TRADE X Expands its Presence in Africa with the Opening of a Trade Route in Ghana

This is the third TRADE X facility in Africa, following the opening of an import facility in Lagos, Nigeria and Nairobi, Kenya earlier this year

TORONTO, Nov. 21, 2022 /PRNewswire/ -- TRADE X, a B2B cross-border automotive trading platform with its headquarters in Ontario, Canada, today announced that it has opened a new trade route in Ghana, strengthening the company's presence in Africa after having recently opened new import facilities in Lagos, Nigeria and Nairobi, Kenya.

With the opening of new trading routes and now expanding into Ghana, TRADE X is aiming to connect automotive dealers in various regions of Africa, which boast a rising middle-class population, to pre-owned inventory in North America, Europe and other strategic export locations. Earlier this month, TRADE X signed a partnership agreement with the Vehicle and Asset Dealers Union of Ghana (VADUG) to increase visibility and encourage more dealers to take advantage of the company's easy-to-use platform.

"People in Ghana hold onto cars for a long time," said Oaniyan Jeremiah Williams, Head of Business Development for TRADE X in Ghana. "There is both a huge market here and a need for a platform like TRADE X that connects buyers and sellers safely and compliantly. Recently, a dealer shared with me that he sent money to a seller in Europe for a vehicle but has not yet received the inventory he paid for. This unfortunately common occurrence is not possible through the TRADE X platform, as each user is screened, and all transactions are routed through a secure portal at the time of the transaction. So, we are providing an obvious need to dealers in this region."

The TRADE X platform connects automotive dealers, fleet owners, rental companies and mobility solution providers with trading partners around the world. When users log onto the TRADE X platform on their desktop or via the TRADE X global app, they can ensure they not only have access to admissible inventory and the best possible deals—but that they are transacting in a secure and streamlined way that removes the complexities of logistics, homologation, compliance and customs. Dealers can use the marketplace to request specific makes or models using the platform's "Instant Request" feature, review specific search results to assess real-time pricing, and make vehicle purchases safely, transparently and compliantly.

Buyers in Ghana, who import a significant number of cars from Germany, favour smaller engine brands such as Mitsubishi, Suzuki and Peugeot.

TRADE X has opened a small office in Accra and further plans to open a warehouse facility in the city.  

"We are excited to bring TRADE X to Ghana and to expand our footprint in Africa," said TRADE X Senior Vice President of Global Business Development Eric Gosselin. "As the automotive industry responds to major shifts around environmental standards, dealers in the U.S. and Europe will need a market for their older vehicles, and we believe that Ghana, Nigeria, and Kenya represent prime markets. We look forward to working with Ghanaian dealers to communicate the benefits of using the TRADE X platform to source and purchase their pre-owned automotive inventory."

Automotive dealers, fleet companies, and mobility providers in Ghana who are interested in trading via the TRADE X platform can sign up at tradexport.com to begin the process of buying and selling vehicles.

About TRADE X

With headquarters in Ontario, Canada, TRADE X is the first global vehicle marketplace to aggregate cross-border supply and demand for car dealers, fleet owners, rental companies, mobility solution providers, importers, and exporters, opening new trading corridors to buy and sell vehicles. The TRADE X 'Brain' platform is a machine-learning, AI-driven technology that connects buyers and sellers through a transparent marketplace that aids sellers in finding the world's highest paying markets and gives buyers access to the best vehicle source markets and price arbitrage opportunities. Users can quickly and seamlessly transact online in a secure environment with all the complexities of international trade – compliance, anti-money laundering regulations, vehicle inspection, currency exchange, digital trade documentation, payments, and financing – all managed by TRADE X. The company serves authorized buyers and sellers everywhere with a user-friendly app available 24/7 via mobile, tablet, or desktop. TRADE X's largest investors include Aimia Inc., a publicly traded holding company listed on the Toronto Stock Exchange (TSX: AIM). To learn more, please visit www.tradexport.com.

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