PRETORIA – Volkwagen has signed a memorandum of understanding (MoU) with the Ethiopian government on collaborating and delivering a joint vision for the establishment of a motor industry in that country.
The MoU was signed by Thomas Schaefer, the head of the Volkswagen sub-Saharan region, and Abebe Abebayehu, the commissioner of the Ethiopian Investment Commission (EIC), in the presence of Ethiopian Minister for Finance and Economic Co-operation Ahmed Shide and Federal Republic of Germany President Frank-Walter Steinmeier, who is on a state visit to Ethiopia.
Schaefer said Volkswagen’s sub-Saharan Africa strategy was gaining momentum with the signing of the third MoU in the past six months.
“We are grateful for the support and vision of the Ethiopian government in identifying the automotive sector as one of the key manufacturing industries that can help the country realise its Vision 2025 goals.
“As one of the fastest-growing economies, and with the second highest population on the continent, Ethiopia is an ideal country to advance our sub-Saharan Africa development strategy,” he said.