AAAM seeks conducive policy for manufacturers
African Association of Automotive Manufacturers (AAAM), said government must promote a policy environment that is conducive to the development of the sector to unlock the economic potential of the continent, particularly in the automotive sector.
Chairman of the assocition, Jeff Nemeth, said this when he led a delegation from the AAAM to discuss sector development with the nation’s President, Muhammadu Buhari in Abuja on Tuesday. He said; “as the African continent becomes increasingly important within the global economy, it is crucial that we develop an auto sector strategy backed by incremental investments in infrastructure, skills development and in-market localisation programmes”.
According to him, this will make new vehicles more affordable, boost the industrialisation of the economy and lead to the growth of middle-income households, which will be the main driver for new vehicle sales.
He lamented that lack of reliable data on the number of new and second-hand vehicles sold on the continent remained one of the biggest challenges the sector suffers in Africa.