Chinese ‘hungry’ to grow their market share in Africa

The Chinese truly are hungry to grow their market share in Africa, with South Africa being an important piece in the puzzle for them, says Amalgamated Automobile Distributors managing director Brett Soso. In 2010, China-Africa trade exceeded US$ 100 billion and predictions indicate that it will continue to grow exponentially. As an indication, in the second quarter of 2010, exports from China were approximately US$ 13bn, while Angola (US$ 12.5bn), South Africa (US$ 6bn), and Sudan (US$ 3.5bn) were China’s three largest African importers. Standard Bank recently forecast that Chinese investment in Africa was likely to reach US$ 50 billion by 2015, an increase of 70% compared to the figures of 2009. “The Chinese are incredibly hard-working and committed, and claims that the products are not of standard are far from the truth. In fact they are spending huge amounts of money on research and development and taking the time to analyse the markets in which they operate, including South Africa.” To this end automobile manufacturer Foton will launch a high-end Chinese product in South Africa early next year, says Soso. “Their vision is to become the world’s leading commercial vehicle manufacturer and we at AAD are committed to helping them do just that. We are proud of the vehicles we import as it really is brand value.”