Afreximbank has renewed its memorandum of understanding with the African Association of Automotive Manufacturers, aligning efforts to boost intra-African trade and investment across the automotive sector.
Signed during the Intra-African Trade Fair 2025 in Algiers, the MoU focuses on three pillars, regional automotive value chains, automotive financing, and policy and capacity building. The agreement was signed by Dr. Gainmore Zanamwe, Director of Trade Facilitation and Investment Promotion at Afreximbank, and AAAM President, Martina Biene.
The framework also envisages collaboration with the African Union, the AfCFTA Secretariat, and ARSO to advance trade facilitation, harmonised standards, and blended finance.
A stronger, integrated automotive ecosystem can reduce reliance on used vehicle imports, improve trade flows within Africa, and create skilled jobs. For tyre makers and distributors, deeper local manufacturing, better logistics, and aligned standards can speed OE and replacement market growth, and increase demand for tyres across passenger, commercial, and off-highway segments.
Dr. Gainmore Zanamwe said the partnership aligns financial innovation, policy support, and value chain development to drive industrialisation and intra-African trade. He noted that Afreximbank’s resources and expertise aim to turn continental goals into tangible economic outcomes.
AAAM President, Martina Biene, welcomed the renewal, stressing the need for logistics, energy, skills, and financing to keep pace with industry ambitions. She called for continued government investment in infrastructure that connects factories to markets. Biene added that affordable vehicle and asset financing is key, and that with coordinated action Africa could manufacture between 3.5 and 5 million vehicles annually by 2035.
Held from 4 to 10 September in Algiers, IATF2025 drew more than 112,000 visitors from 132 countries, hosted 2,148 exhibitors, and recorded US$48.3 billion in trade and investment deals. The Africa Automotive Show, hosted with AAAM, gathered manufacturers, subcontractors, and equipment suppliers to spotlight Africa’s automotive manufacturing potential and build stronger regional supply chains.
Tagged with: Afreximbank, African Association of Automotive Manufacturers, AAAM, AfCFTA, ARSO, IATF2025, regional value chains, automotive financing, harmonised standards, original equipment, tyre demand, Africa manufacturing
Disclaimer: This content may include forward-looking statements. Views expressed are not verified or endorsed by Tyre News Media.
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