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Car industry to rev AfCFTA implementation

Car industry to rev AfCFTA implementation

from SAVIOUS KWINIKA in Johannesburg, South Africa
JOHANNESBURG, (CAJ News) – THE automotive sector is projected to play a crucial role in the continent fulfilling its potential with the advent of the African Continental Free Trade agreement (AfCFTA).

This is the view of an industry leader as Africa remains the last automotive frontier in the world with a motorization rate of 42 vehicles per 1 000 inhabitants.

This is far below the global average of 182, which Nissan is working hard through the African Association of Automotive Manufacturers (AAAM) to address.

“As we work hard to make the AfCFTA a reality, there’s no doubt of the potential ground breaking role that the automotive sector can play by creating regional networks of vehicle and component manufacturers,” said Nissan Africa Managing Director, Mike Whitfield.

He said an important part of this will be creating a coalition of the willing to establish the necessary legislative frameworks to set standards, level the playing fields and encourage the necessary foreign investment.

The World Bank estimates that the economic impact of the AfCFTA, if it is effectively implemented, could potentially increase the combined gross domestic product (GDP) of the continent by $450-billion by 2035, lifting more than 100 million people out of poverty.

The electrification of Africa, said Whitfield, will take place depending on precisely that same kind of shared vision and commitment between the public and the private sectors to make it possible.

“Hosting yet another successful E-Prix as Morocco has just done, shows everyone what can be achieved and provides a real glimpse into a future carbon neutral world,” Whitfield.

Nissan e.dams, the Japanese automotive manufacturer’s highly competitive Formula E racing team, fought hard at the Marrakesh E-Prix last weekend during the keenly contested Round 10 of the current ABB International Automobile Federation (FIA) Formula E World Championship.

It was the fifth time that the race has been held in the Moroccan capital.

– CAJ News

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