The South African automotive industry aims to increase local content in South African assembled vehicles to 60% by 2035 as part of the South African Automotive Masterplan objectives.
Achieving these targets and transforming the local automotive industry requires commitment and buy-in from various stakeholders and the entire value chain.
NAACAM and the IFC – International Finance Corporation have recently signed a partnership agreement to support the growth of local content levels in South African assembled vehicles and the overall development of the automotive sector in South Africa.
The partnership will see a platform being developed that will match the procurement needs of OEMs and tier-one suppliers to the capabilities of tier-two and -three local suppliers.
The platform’s goal is to support more efficient domestic supply chains and reduce South Africa’s reliance on imported parts.
Watch the 𝐍𝐀𝐀𝐂𝐀𝐌 𝐚𝐧𝐝 𝐈𝐅𝐂 𝐩𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐢𝐠𝐧𝐢𝐧𝐠 𝐯𝐢𝐝𝐞𝐨 here: