The Coega Development Corporation has extended its external advisory services and expertise beyond SA’s borders.
Final negotiations with the Senegalese Investment Agency’s Resource Mobilisation and Investment Attractiveness Support Project have recently concluded.
This will the CDC and Automotive Investment Holdings (AIH) appointed to elaborate on a strategy for the development of the automotive industry in Senegal.
This is according to CDC spokesperson Ayanda Vilakazi.
The negotiations follow on from 2021’s intra-African Trade Fair Conference opened by President Cyril Ramaphosa, along with the Coega Africa Programme.
Vilakazi said that the Sub-Sahara Africa automotive sector now accounted for less than 3% of global production, against 30% for China, 22% for Europe and 17% for North America.
“The motorisation rate in this region was very low in 2018, with 42 cars per 1,000 inhabitants, against 837 in the US, 173 in China and 214 in SA, for a world average of 180 cars per 1,000 inhabitants.
“This rate hardly exceeds 3% in Senegal, which means that only 30 people out of 1,000 own a private vehicle.”
Apart from Nigeria and Ghana, he said the automotive industry remained nascent in the member countries of the Economic Community of West African States, whose process of industrialisation faces the threat of used car imports from Europe, Japan, US, Canada and other countries.
“The subregional and regional integration, through the development of upstream and downstream links in the automotive industry value chain, will stimulate industrialisation and competitiveness throughout Africa.”
The Senegalese Automotive Industry Strategy developed by the CDC and AIH will provide a comprehensive analysis of the automotive industry in Senegal, its potential and the upstream and downstream linkages that can be developed with countries such as SA and Morocco, which are the leading vehicles manufacturers in the continent.
“The appointment of the CDC sees the organisation expanding its project footprint throughout the continent, with projects now in Zimbabwe, Cameroon for the Central African Republic, and now Senegal.”
HeraldLIVE
Coega extends automotive expertise to Senegal
Image: SUPPLIED
The Coega Development Corporation has extended its external advisory services and expertise beyond SA’s borders.
Final negotiations with the Senegalese Investment Agency’s Resource Mobilisation and Investment Attractiveness Support Project have recently concluded.
This will the CDC and Automotive Investment Holdings (AIH) appointed to elaborate on a strategy for the development of the automotive industry in Senegal.
This is according to CDC spokesperson Ayanda Vilakazi.
The negotiations follow on from 2021’s intra-African Trade Fair Conference opened by President Cyril Ramaphosa, along with the Coega Africa Programme.
Vilakazi said that the Sub-Sahara Africa automotive sector now accounted for less than 3% of global production, against 30% for China, 22% for Europe and 17% for North America.
“The motorisation rate in this region was very low in 2018, with 42 cars per 1,000 inhabitants, against 837 in the US, 173 in China and 214 in SA, for a world average of 180 cars per 1,000 inhabitants.
“This rate hardly exceeds 3% in Senegal, which means that only 30 people out of 1,000 own a private vehicle.”
Apart from Nigeria and Ghana, he said the automotive industry remained nascent in the member countries of the Economic Community of West African States, whose process of industrialisation faces the threat of used car imports from Europe, Japan, US, Canada and other countries.
“The subregional and regional integration, through the development of upstream and downstream links in the automotive industry value chain, will stimulate industrialisation and competitiveness throughout Africa.”
The Senegalese Automotive Industry Strategy developed by the CDC and AIH will provide a comprehensive analysis of the automotive industry in Senegal, its potential and the upstream and downstream linkages that can be developed with countries such as SA and Morocco, which are the leading vehicles manufacturers in the continent.
“The appointment of the CDC sees the organisation expanding its project footprint throughout the continent, with projects now in Zimbabwe, Cameroon for the Central African Republic, and now Senegal.”
HeraldLIVE
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