The development of regional value chains could see new vehicle sales increase from 1 million to 5 million units a year across Africa, according to Afreximbank.
Speaking at a recent online seminar to promote the African continent’s premier trade event, the Intra-African Trade Fair, to be held in Kigali, Rwanda, from 6 – 12 September 2021, senior trade facilitator Gainmore Zanamwe, said there were bright prospects for the sector.
The Automotive Tradeshow and African Association of Automotive Manufacturers (AAAM) Automotive Forum at IATF under the theme “Building Bridges for a successful AfCFTA”, would be a critical base from which to drive growth through the development of intra-African partnerships, Zanamwe said.
The value of collaboration around automotive manufacturing in Africa was highlighted as the African Export-Import Bank (Afreximbank), in collaboration with the African Union, concluded a string of virtual events raising awareness of IATF2021 and its intent.