Investment Opportunities In Africa Auto Industry
Africa’s automotive market size is expected to grow from 1,325.89 thousand units in 2023 to 1,777.69 thousand units by 2028, at a Compound Annual Growth Rate (CAGR) of 6.04 per cent, during the forecast period between 2023 and 2028.
According to a World Economic Forum (WER) report, the continent’s auto industry was valued at $30.44 billion in 2021 and is expected to grow by 40% to reach $42.06 billion by 2027. The report titled ‘Africa Continental Free Trade Area (AfCFTA): A New Era for Global Business and Investment in Africa’ further indicates that Africa’s automotive sector is ripe for new and increased investments strengthened by the AfCFTA, as international companies have registered growth by partnering with African countries.
The AfCFTA unlocks numerous opportunities for African and global businesses in the automotive industry to harness, building upon strong foundations in a new era of borderless African trade.
Panelists/Speakers will explore areas of investment opportunities and partnership in Africa.
Tuesday, Nov. 14, 2023
3:00 p.m. – 4:00 p.m.
James Gomez: Director for International Affairs – Rainbow PUSH
Mamadou Diallo: Senior VP, Auto Sales Business Unit – American Honda Motor Co., Inc.
Alex Dodoo: Associate Professor – University of Ghana Medical School; and Director General – Ghana Standards Authority
Audley “Kano” Smith: Chairman & CEO – Smith-Madison Consultancy