Browsing: Korea

• Egypt’s automotive industry is one of the sectors benefiting from the wider economic uplift.
• New vehicle sales in Egypt have recently surged to more than 200,000 units per year, with around half of this figure assembled locally, the whitepaper found.
• The country is home to one of Africa’s largest vehicle fleets with around six million vehicles on the country’s roads, the majority of which are passenger cars (approximately 4.6 million).

A boom in Egypt’s automotive parts industry is being fueled by a burgeoning population, vehicle sales growth and government moves to combat auto emissions, according to a new report highlighting the sector.

The combination of these factors, against a backdrop of post-pandemic economic growth, has accelerated the Egyptian market for car spare parts, accessories, and vehicle components, which is now worth between $1-2 bn, German consultants Africon GmbH say.

This is despite Egypt’s crisis with international companies with whom they …

The Eastern and Southern African Trade and Development Bank (TDB) and the Korean Overseas Infrastructure & Urban Development Corporation (KIND), have signed a memorandum of understanding to cooperate on infrastructure financing in the region.

KIND is a newly established organization by the Korean Government to proactively support global public-private partnerships and infrastructure and urban development for sustainable growth in emerging markets, with the Africa office headquartered in Nairobi.

KIND President and CEO Kyong-goo Hur noted that since the world is facing drastic climate changes and rapid urbanization today, the need for infrastructure investment is emerging greater than ever with the gap between infrastructure demand and supply hardly to be filled in the near future.

“The highest priority, therefore, has been attached to infrastructure investment not only in Korea but also in other numerous countries on this globe,” President Kyong-goo added.

Furthermore, KIND is now ready to serve as a facilitator …