Africa Must Increase Annual Vehicle Production to 5 Million – SA Minister

0
Electric Vehicles
Vehicles

Africa needs to boost its production of vehicles from the current 1 million to 5 million a year, the South African minister of trade and industry, Ebrahim Patel, said on Tuesday.

“We need a world-class machinery assembly and stop bringing in second-hand vehicles. We [are] currently producing one million vehicles per annum, we must add 4 million more and strengthen trade policies,” Patel said at the Automotive Forum at the Intra-African Trade Fair in Durban, mentioning South Africa, Morocco, Ghana and Nigeria as the continent’s chief car manufacturers.

The minister also touched upon the need to create a commercially viable market for multinational corporations, saying that Africa has over 20 assembly plants.

Meanwhile, Ghana’s deputy minister of trade, Herbert Krapa, told the delegates that local demand must be stimulated, saying that his country’s industrial agenda is based on past experience.

“Ghana will tackle the approach from two perspectives, through industrial agenda and lessons learned from the past … As a government, we are willing to come in and drive the agenda of the AFCFTA [African Continental Free Trade Area]. There must be a tariff adjustment regime and build a domestic auto industry that will reap the benefits,” Krapa said.

The Intra-African Trade Fair acts as a platform to boost the African Free Trade Agreement. The fair is organized by the African Export-Import Bank and the African Union.

Send your news stories to [email protected] and via WhatsApp on +233 244244807
Follow News Ghana on Google News

LEAVE A REPLY

Please enter your comment!
Please enter your name here