In this presentation, Lee Naik, a global technology commentator, certified futurist and CEO of TransUnion Africa, will explore the future of the automotive industry, focusing on key trends shaping the landscape over the next decade. He’ll dive into specific challenges and opportunities facing the African continent, with a particular emphasis on South Africa.
Drawing from his previous discussions on financial inclusion during Naamsa’s South African Auto Week, Lee will highlight the critical roles OEMs, dealer groups and vehicle asset financiers must play in driving the auto industry’s growth amid economic challenges. Attendees will gain valuable insights to shape their strategies and decisions, empowering them to foster growth within their organizations and the broader industry.
This session will provide a robust analysis of vehicle sale trends in the South African market. Nidhi will highlight key statistics and explore challenges impacting the industry, offering valuable insights on how leaders can contribute to the sector’s growth.
The presentation will introduce a unique study focused on credit monitoring across the South African landscape, emphasizing the generational differences in the automotive sector. Nidhi will explain how credit monitoring, especially in the context of vehicle asset finance, plays a crucial role in understanding and grooming consumers to better engage with the industry.
She’ll conclude with actionable takeaways from global regions — offering effective strategies OEMs, vehicle asset financers and dealer groups can adapt to drive growth in their respective sectors.
Africa needs to industrialise, beneficiate and diversify its exports. Africa is a continent with a rapidly growing population and a burgeoning middle class driving the demand for transportation. The development of value chains in Africa is essential for the growth of the automotive industry on the continent. Regional integration and value chains will only develop when leading car manufacturing countries in Africa, such as South Africa, Morocco and Egypt, support other automotive progressive African countries, such as Ghana, Tunisia, Kenya, Rwanda, and Ivory Coast, to spur their respective automotive industries through investments and the sharing of knowledge. The coming into effect of the AfCFTA offers an excellent platform for the development of regional value chains on the continent. Afreximbank, working with the AfCFTA Secretariat, has earmarked an US$1 billion Automotive Fund for the development of the automotive sector in the Continent. The Afreximbank Continental Automotive Value Chain Study Report will serve as a comprehensive database for information on potential Automotive Value Chains within the AfCFTA. The IDC also commissioned a study focusing on Electric mobility transition and localisation: Towards unlocking the new value chain for Africa. Building the automotive market also hinges on having the correct policies in place, and the AfCFTA has been one of the drivers of this, providing a mandate to industrialise the continent. Once the outstanding automotive rules of origin have been finalised to ensure automotive trade under the AfCFTA, opportunities could increase exponentially with developmental finance in place.