08 November 2023 – Renai Moothilal, speaking with CNBC Africa following last week’s AGOA Forum, said there has been significant progress in integrating African partner countries into what has previously been a situation of South Africa dominating the autos manufacturing narrative given South Africa’s almost 100-year history of manufacturing vehicles and components. The development of regional value chains for the production of automotive glass, electrical wiring harnesses and seating components provide good examples of this.
“If the continent works towards hub and spoke production, with three or four production hubs including South Africa, there is the opportunity to build regional value chains and component production, which is where the real value will be derived towards African industrialisation,” he said. This increased industrialisation and interconnectedness on the Continent, which is being driven in part by the African Continental Free Trade Area (AfCFTA) has the ability to boost the competitiveness of the African market and thereby ultimately supporting increased exports to the US under AGOA.
Watch the interview here: https://youtu.be/O2R_pMUsA0w