Engine for innovation, growth and jobs
Africa is home to fast growing economies with a young, growing population and rapid rates of urbanization along with very low rates of motorization. By 2035, the continent is expected to have the largest labour force potential in the world. The automotive and logistics sector holds a key position due to its sustainable value creation in supplier networks, assembly plants, distribution structures and pan-African trade relations and offers great potential for innovation, growth and jobs. The digital economy and sustainable mobility have particularly high development potential. Thus, the automotive sector is striving to become an engine for innovation, growth and jobs. The level of motorization in Africa is just 42 vehicles per 1,000 inhabitants, which is significantly below the global average of 182 per 1,000.