​Africa's share of world trade stands at 3%: AAAM President

CAIRO - 11 November 2023: Africa’s share of world trade is 3 percent of global exports, according to the President of the African Association of Automotive Manufacturers (AAAM), Martina Bienne.

Bienne added during the opening remarks of Africa Automotive Forum that the intra-Africa trade represents only 16 percent of the global share.

However, ”Therein lies the huge opportunity for us as African countries, for us as African businesses and automotive firms should serve in discovering these huge opportunities in Africa,” Bienne noted.

She added that the African Continental Free Trade Agreement (AfCFTA) provides a huge framework to unlock this African potential in terms of trade and in terms of training in Africa.

She further added that the macro and macro-economic indicators in Africa point us (Africans) toward a great not only future but breaks demand of mobility in Africa over the years to come.

“We must find ways to make these fantastic new cars available to the population. So that can be mobility but that also talks to vehicle isn't financing,” she noted.

Moreover, she referred to the opportunities in Automotive Value Chain, saying that there's multiple opportunities there's passenger cars there's commercial vehicles, there's trucks and buses, there's two wheelers, there's component manufacturing.

“There's also a huge opportunity for Africa in electric vehicles because you've got all the critical raw materials at hand in Africa,” she added.

African Automotive Forum kicked off at the third edition of the Intra-African Trade Fair, IATF2023. 

The forum takes place for two days, Nov. 11 and 12.

The Automotive Forum (conference), spearheaded by the African Association of Automotive Manufacturers (AAAM) addresses the most pertinent issues affecting Africa’s automotive growth. 

The program of the forum includes presentations from global automotive leaders, including multi-national OEMs, participation of several Heads of State.

It seeks to facilitate co-operation and the development of regional auto supply chains (trade between auto hubs) for auto manufacturing on the continent, in addition to achieving an unprecedented networking with all of Africa’s key role-players and international partners.

Moreover, the African Automotive show has started since day one of the IATF2023, and it is the gathering place of all of Africa’s automotive leaders, policy-makers and buyers, as well as international partners. It represents an unmatched opportunity for brand building, sales and partnerships.

The IATF2023, which is the third edition of the Intra-African Trade Fair, provides a platform for businesses to access an integrated African market of over 1.3 billion people with a GDP of over $3.5 trillion created under the African Continental Free Trade Area, according to the African Union.