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Workers assemble a vehicle as operations begin after flooding in April shut down the Toyota South Africa Motors plant in Durban, South Africa, August 16, 2022.
The results of a study that Nedbank and the National Association of Automotive Component and Allied Manufacturers (NAACAM) have released have highlighted challenges that local manufacturers are facing.
They include pressure to shift to low-carbon operations or risk losing their competitiveness, as well as a lack of access to affordable technology and capacity to measure emissions.
These have led to uncertainty around reporting frameworks and the cost of compliance.
Trade, Industry and Competition Department’s Lester Bouah says, “It is not always an easy space because we do have to deal with the issues of multilateralism, so we sit in the WTO (World Trade Organisation).”
“So we cannot just ignore that we are signed to these things. We cannot just tomorrow, go and all of a sudden do as our esteemed World President and put 100 and 10 tariffs on the world and say we will stop everybody from coming in here,” Bouah adds.
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