Nissan and AfCFTA together committed to boosting the South African economy

Last updated on September 11th, 2021 at 07:57 am

Nissan has always appreciated the commitment of the enormous African automobile market. In Egypt, Nissan has a very agile plant and makes vehicles just for the region. 

Nissan manufactures three main models, and the primary objective is to capitalize on the main Egyptian market, says Mike Witfield, Managing Director for Nissan Africa, in an interview with CNBC Africa.

At present, it’s very promising as the automobile market has grown bigger than last year. Nissan is waiting for the finalizing of the free trade deal. Nissan is committed to the growth of the automobile industry. Moreover, in establishing more automobile hubs and also increase the manufacturing business in Africa, Witfield added.

The African Continental Free Trade Agreement or (AfCFTA) is very important in this perspective. The international free trade deal will help boost the potential and lead it to greater results. 

AfCFTA is creating the world’s biggest trading block in terms of the number of nations, joining 1.3 billion people across 55 nations with a total GDP of US$3.4 trillion. 

READMORE: Africa’s SME businesses further decline due to the ongoing pandemic

Nissan has a business and industrial presence in Nigeria, Egypt, South Africa, and Ghana. The automobile company is still assessing the Kenyan market. 

They have production facilities and plants in Egypt, South Africa, and Nigeria through the hybrid structure of both full partnerships and ownership. One automobile plant is under construction in Ghana.

Ghana’s economy is too small for supporting a car plant on its own, however, presently its increased and has a well-educated workforce. Moreover, they are now capable to assemble vehicles for the entire continent. 

Ghana’s story will be imitated across the mainland due to the support of AfCFTA. Nissan is also looking for more such opportunities in the region.