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New Whitepaper Outlines Growth for Ghana, Ivory Coast Auto Aftermarkets

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3 years ago

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Auto Aftermarkets

The paper outlined that while Ghana and Ivory Coast are both smaller markets than the likes of African heavyweights Egypt, Nigeria, and South Africa, they hold enormous potential

DUBAI, United Arab Emirates, August 15, 2022/APO Group/ — 

‘Enormous potential’ for aftermarket suppliers of two African countries’ as importation of vehicles, spare parts ‘skyrocket’; Report by German consultancy Africon indicates high demand from USA, Europe, or UAE – host of Automechanika Dubai  (www.AutomechanikaDubai.com) 2022

Download document:  https://bit.ly/3AmaO3M

A new whitepaper authored by Africon, the German consultancy firm that supports companies worldwide with business expansion in Africa, has outlined key insights into the automotive markets of Ghana and Ivory Coast.

Among the data are details on the rise of imported vehicles as well as a growing spare parts market in the two countries, making the pair increasingly important in the African automotive aftermarket going forwards.

The paper outlined that while Ghana and Ivory Coast are both smaller markets than the likes of African heavyweights Egypt, Nigeria, and South Africa, they hold enormous potential.

Total vehicle imports into both countries skyrocketed in the past six years, with the value of light vehicles in Ivory Coast more than doubling and heavy vehicles almost doubling since 2016.

While the Ghanaian parts market is around twice as large as that of its francophone neighbour, Ivory Coast has been catching up quickly with annual growth in imported parts

In Ghana, growth has been slightly slower, yet figures remain impressive at an average of 11 percent and 10 percent annually for light and heavy vehicles respectively. For both countries, most of the total supply came from the USA, UAE, and Europe.

Similarly, in Ivory Coast, despite the economic impact of the COVID-19 pandemic, the country’s new light vehicle market growth in recent years has been relatively strong, with volume increasing from 7,500 in 2012 to relatively consistently more than 10,000 units over the past few years. In total, there are around 800,000 vehicles on the road in the country (excluding trailers, and two- and three-wheelers), while Ghana is home to approximately 1.2 million.

“Spare parts markets are equally growing for both countries,” the whitepaper reads. “While the Ghanaian parts market is around twice as large as that of its francophone neighbour, Ivory Coast has been catching up quickly with annual growth in imported parts increasing by almost 20 percent between 2015 and 2021. In Ghana, growth stands at ‘only’ 10 percent per annum over the same period.”

Africon believes that with growing market sizes, the two countries are likely to be the focus of parts manufacturers, while the localisation of distribution infrastructure is likely to increase. As it stands, both Ghana and Ivory Coast have a very similar distribution structure, with global parts manufacturers supplying through international trading firms based often in the UAE or EU.

E-commerce so far plays a rather limited role in both countries, the paper asserts. Foreign online platforms are sometimes used to import parts, especially due to a higher trust in foreign sources. For the resale within the countries, a vast majority of buyers prefer to “see and touch” the products before ordering. Additionally, logistical challenges to enable reliable e-commerce systems are yet to be solved. Nevertheless, many stakeholders believe in future solutions to these challenges and are increasingly keen to explore opportunities in the digital space in Africa.

“While so far only very few global parts manufacturers have their own staff and structures in the region, they should and will move closer to their customers in this regard,” the paper continues. “The importance of e-commerce parts sales and other digital automotive services (repair and service, insurance, ride-hailing, etc) may well rise to significantly increase convenience to local drivers and vehicle owners. To ensure a foothold in these promising future markets, local and global firms should make use of early mover advantages.”

Africon, with representations in Ivory Coast, Ethiopia, Ghana, Kenya, Nigeria, South Africa, and Tanzania, will be attending this year’s annual Automechanika Dubai trade show from November 22-24 at Dubai World Trade Centre in the UAE.

Despite the challenges of COVID-19, last year’s event brought together 20,574 visitors from 129 countries, 578 exhibitors from 47 countries, and 12 official country pavilions to reconnect and engage in serious business conversations, sign new deals, explore new partnerships, and stay updated on the latest market trends. 

The show’s organiser, Messe Frankfurt Middle East, expects more than 750 exhibitors this year, a healthy 30 percent year-on-year increase, with similar visitor growth anticipated as international travel restrictions continue to ease.

Distributed by APO Group on behalf of Automechanika Dubai.

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As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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2 days ago

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February 6, 2026

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Business

Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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2 days ago

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February 6, 2026

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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2 days ago

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February 6, 2026

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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