Alamein, Egypt – The African Export-Import Bank (Afreximbank), in partnership with the Secretariat of the African Continental Free Trade Area (AfCFTA) and the African Association of Automotive Manufacturers (AAAM), has convened the Africa Automotive Investment Forum in Alamein, Egypt, to explore investment opportunities and accelerate industrial development across Africa’s automotive sector.
Held under the theme “Unlocking Africa’s Automotive Industry Potential under the AfCFTA,” the Forum brought together policymakers, automotive manufacturers, suppliers, investors and financial institutions to discuss strategies for building a competitive and integrated African automotive industry.
Discussions focused on the policy reforms, financing mechanisms and strategic partnerships needed to attract investment, expand local manufacturing and strengthen regional automotive value chains. Participants explored opportunities for joint ventures, technology transfer, domestic component production and regional supply agreements, with the aim of creating skilled jobs and enabling African businesses to play a greater role in the global automotive industry.
Afreximbank Commits $1 Billion to Automotive Development
Afreximbank reaffirmed its commitment to supporting the sector through its $1 billion Automotive Fund, of which $233 million has already been disbursed. The Bank is also providing project preparation support, guarantees and equity financing to help transform investment opportunities into viable industrial projects.
As part of these efforts, Afreximbank has identified at least 10 potential investment opportunities worth approximately $125 million in automotive components. The opportunities cover key products, including brake systems, shock absorbers, exhaust systems, tyres, batteries and battery housings.
Dr Gainmore Zanamwe, Director of Trade Facilitation and Investment Promotion at Afreximbank, stressed that closer cooperation among governments, manufacturers and financial institutions is essential to unlocking the continent’s automotive potential.
“Developing Africa’s automotive industry requires stronger collaboration between governments, manufacturers and financial institutions to turn investment opportunities into viable projects,” Zanamwe said. He added that Afreximbank remains committed to supporting local production, developing regional supply chains and enabling African businesses to participate more fully in the automotive value chain.
General Motors Highlights Egypt’s Manufacturing Capabilities
As part of the Forum’s activities, delegates visited the General Motors Egypt & Africa (GME) manufacturing plant in 6th of October City to examine Egypt’s automotive production capabilities and identify opportunities for greater regional cooperation.
With a century-long presence in Egypt and more than one million vehicles produced locally, General Motors showcased its vehicle assembly operations, localisation initiatives and supplier development programmes.
The visit underscored Egypt’s potential to serve as a platform for strengthening regional automotive manufacturing and supply networks.
Rohan Fernandes, Chairman and Managing Director of General Motors Egypt & Africa, said Africa has significant potential to build a competitive automotive industry, but real progress will depend on translating discussions into practical action.
“Egypt’s established manufacturing capabilities, skilled workforce and supplier network provide a strong foundation for this growth,” Fernandes said, reaffirming General Motors’ commitment to advancing localisation, developing talent and strengthening regional supply chains in support of Africa’s automotive ambitions.
AfCFTA Seen as a Catalyst for Regional Automotive Growth
The Forum highlighted the need to align industrial policies, financing and private-sector investment to accelerate the development of Africa’s automotive industry. Greater regional integration, stronger local component manufacturing and expanded cross-border trade were identified as key priorities for building a more competitive and resilient sector.
Afreximbank and its partners are expected to continue working with governments and industry stakeholders to develop bankable investment projects, expand local production and strengthen regional automotive trade under the AfCFTA framework.
By bringing together investors, manufacturers and policymakers, the Forum sought to advance practical partnerships that can help transform Africa’s automotive potential into sustainable industrial growth, job creation and deeper integration into regional and global value chains.
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