By; Goodluck E. Adubazi, Abuja.
Algiers, 23 September 2025 — The African Export-Import Bank (Afreximbank) has renewed its memorandum of understanding (MoU) with the African Association of Automotive Manufacturers (AAAM), harmonising efforts to promote intra-African trade and investment in the continent’s automotive sector.
The MoU was signed on the sidelines of the recently concluded Intra-African Trade Fair 2025 (IATF2025) in Algiers, Algeria, by Dr. Gainmore Zanamwe, Director of Trade Facilitation and Investment Promotion at Afreximbank, and Ms. Martina Biene, President of AAAM. Its key pillars include regional automotive value chains, automotive financing, and policy and capacity building.
Speaking during the signing ceremony, Dr. Zanamwe reaffirmed Afreximbank’s commitment to supporting the development of Africa’s automotive sector.
He said: “This MoU underscores the commitment of Afreximbank and AAAM to strengthen Africa’s nnnnńaligning financial innovation, policy support, and value chain development within the automotive sector, we are fostering a new era of intra-African trade and manufacturing. Our commitment to this initiative demonstrates how Afreximbank’s resources and expertise can transform continental aspirations into tangible economic outcomes.”
According to him, the MoU is expected to catalyse industrialization by spurring local automotive manufacturing, strengthening regional integration, improving trade flows, creating skilled jobs, and reducing reliance on imported second-hand vehicles across Africa.
Ms. Biene, President of AAAM, also expressed optimism about the renewed partnership.
“Afreximbank has been a phenomenal partner in our quest to drive growth and industrialisation of the automotive industry on the continent. We are pleased with the renewal of the MoU. Logistics, energy, skills development, and financing mechanisms must keep pace with our ambitions. Afreximbank’s leadership is critical in this regard, but so too is the commitment of our governments to invest in infrastructure that connects factories to markets,” she said.
The revitalised framework aligns with AAAM’s strategic expansion ambitions by positioning it to leverage Afreximbank’s continental reach and trade-promotion mandate. It fosters coordinated efforts to map and activate regional value chains, deploy auto-specific financing solutions, and strengthen both national and continental automotive policy environments. It also envisages collaboration with institutions such as the African Union, the African Continental Free Trade Area (AfCFTA) Secretariat, and the African Organisation for Standardisation (ARSO) to enhance trade facilitation, capacity building, harmonised standards, and blended financing to accelerate industrialisation and sustainable growth in Africa’s automotive sector.
“We must unite with key stakeholders to enable affordable mobility in Africa. The implementation of affordable vehicle and asset financing will unlock the continent’s potential. Despite challenges, the opportunities are immense. With coordinated action, Africa can manufacture at least 3.5 to 5 million vehicles annually by 2035-creating jobs for our youth, strengthening local supply chains, and ensuring that the benefits of industrialisation are shared across our continent,” Ms. Biene added.
The Africa Automotive Show, held during IATF2025, brought together stakeholders in the automotive sector, including manufacturers, subcontractors, and equipment producers. It aimed to showcase Africa’s potential in automotive manufacturing and strengthen regional supply chains. Hosted in collaboration with AAAM, the event focused on developing regional automotive supply chains across the continent.
Attended by more than 112,000 visitors from 132 countries, IATF2025, which took place from 4 to 10 September, ended on a remarkably high note, with US\$48.3 billion in trade and investment deals signed over the seven days of the continental exposition. The fair featured 2,148 exhibitors.
About the Intra-African Trade Fair
Organised by Afreximbank, the African Union Commission (AUC), and the African Continental Free Trade Area (AfCFTA) Secretariat, the Intra-African Trade Fair (IATF) provides a unique platform for facilitating trade and investment information exchange in support of increased intra-African trade and investment, especially in the context of implementing the AfCFTA.
The IATF brings together continental and global players to showcase and exhibit goods and services and explore business and investment opportunities across Africa. It also provides a platform to share trade, investment, and market information with stakeholders while enabling participants to discuss and identify solutions to the challenges confronting intra-African trade and investment.
In addition to African participants, the Trade Fair is open to businesses and investors from non-African countries interested in doing business in Africa and supporting the continent’s transformation through industrialisation and export development.