South Africa: Car manufacturers to invest $3 billion in the next five years
Tuesday, 30 October 2018 16:38
On October 26, 2018, the collective voice of the South African automotive industry (NAAMSA) announced that its members would invest ZAR40 billion ($3 billion) in the country in the next five years.
The announcement was made by the association which counts on its groups like Nissan, Volkswagen, Isuzu, Ford, and BMW, during an investment summit in Johannesburg.
The automotive industry contributes to about 7% of the rainbow nation’s GDP and represents 12% of industrial exports in the country since only 40% of the production of the country’s car manufacturers are aimed at meeting local demand.
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