Afreximbank and partners advance Africa’s automotive investment agenda at Alamein Africa Forum
Afreximbank and various African partners hosted the Africa Automotive Investment Forum in Egypt to promote industrialization and local manufacturing. The forum focused on joint ventures and technology transfers to boost the continent's automotive sector.
Why it matters
Developing a local automotive manufacturing base is seen as a strategic step for Africa's economic industrialization and job creation.
African Export-Import Bank (Afreximbank) ( www.Afreximbank.com ), in partnership with the African Association of Automotive Manufacturers (AAAM), the African Continental Free Trade Area (AfCFTA) Secretariat, the Ministry of Trade and Investment of Egypt, and the Department of Trade and Industry of South Africa, hosted the Africa Automotive Investment Forum on the sidelines of the Alamein Africa Forum held in El Alamein, Egypt recently.
The two-day Forum brought together high-level African automotive industry policymakers, private sector original equipment manufacturers (OEMs) and Africa-based component manufacturers.
The Forum sought to sensitise policymakers on the policy changes and reforms needed to develop the automotive sector, enable investors to engage directly with both policymakers and manufacturers, and facilitate potential joint ventures and supply agreements or engagements leading to future deals.
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