(Ecofin Agency) - Nissan will invest $213 million to increase its production capacity in South Africa. This was announced this week by Mike Whitfield (photo), managing director of the South African subsidiary of this car maker.

Thanks to this investment, Nissan will develop its new models Navara to supply the South African market and neighbouring countries. It should also increase the group's production capacity by 30,000 units and create 400 new jobs.

In a country where the auto sector is one of the pillars of the economy (7% of GDP), this announcement is good news. President Cyril Ramaphosa wants to boost foreign investments to revive the economy and address unemployment, which is now 27% of the labour force. Yesterday 09, April 2019, the IMF revised its growth forecast for this country downward to 1.2%. Let’s note that the auto group’s plant in South Africa will launch production by 2020.

Moutiou Adjibi Nourou