Renai Moothilal, executive director NAACAM, spoke to 𝐏𝐨𝐰𝐞𝐫 𝐅𝐌 about how the South African Automotive Sector is contributing to South African economic development and the importance of component localisation in getting more opportunities for growth.
The automotive sector in South Africa is a great example of a sector with co-ordinated industrial policies aimed at economic development, with defined outcomes around employment, skills development, investment, exports and technology development.
Moothilal notes that: “Out of all the manufacturing sectors, the automotive sector was the first to develop and implement a master plan mandated up to 2035. Through the SAAM plan, the sector is aiming to increase locally manufactured automotive component production to 60% – which is currently at less than 40%.”
Listen to the interview here: https://omny.fm/shows/powertalk-archive/the-sa-automotive-industry-the-economy