A R4.8 billion investment pledge, reflecting the importance of the South African automotive components sector to the local economy, was announced by NAACAM CEO Renai Moothilal on the final day of the NAACAM Show 23, hosted in partnership with the Tshwane Economic Development Agency (TEDA), in the City of Tshwane, from 30-31 August.
National Association of Automotive Component and Allied Manufacturers (NAACAM) CEO Renai Moothilal, confirmed that the pledge was consolidated from a group of sixteen exhibitors at the event, and reflected committed investments to be implemented between now and the end of 2024. This group, coming from different regions and segments of component manufacturing, was a mix of large multinational and domestic component manufacturers as well as emerging black industrialists.
Minister of Trade, Industry and Competition, Ebrahim Patel, a keynote speaker at the NAACAM Show 2023 welcomed the announcement and responded that “Investment is the lifeblood of…
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