• About
  • Advertise
  • Privacy Policy
  • Contact
Friday, February 3, 2023
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Commercial Vehicle sales to increase by 9.8% over 2021 in SSA

May 18, 2021
Stephen KotochiebyStephen Kotochie
in Sub Top Stories1, Africa, Sub Top Stories, World
0
Commercial Vehicle sales to increase by 9.8% over 2021 in SSA

Fleet of trucks parked

Fitch Solutions has projected commercial vehicle sales in the SSA region to expand strongly by 9.8% in 2021 to reach an annual sales volume of about 25,000 units.

According to the research firm, this comes as a result of delays at border crossings in the near term and expected increases in infrastructure spending. Furthermore, this will lead to higher demand for commercial vehicles in sub-Saharan Africa.

Also, the rollout of vaccines will further lend support to the surge in demand, thus resulting in the increase in commercial vehicles acquired by countries. This is likely to be either through donations or increased purchases for the purposes of facilitating the region’s vaccine rollout.

RelatedPosts

Republicans Oust Ilhan Omar From Major Committee

Putin Commemorates Battle Of Stalingrad

Pope Urges Congo’s Youth To Work For A Peaceful And Honest Future

Fitch Solutions expects that the demand for heavy commercial vehicles will likely see the strongest near term growth as fleet operators come under increased pressure to upgrade and expand their fleets.

That said, Fitch Solutions notes that this growth forecast may increase more if countries in the SSA region start utilizing infrastructure spending to boost employment and economic growth.

Furthermore, Fitch Solutions believes that SSA’s construction industry will see positive growth this year compared with 2020 figures. Infrastructure growth is forecast to average 5.2% per year between 2022 and 2030.

Also, Fitch Solutions believes that transport infrastructure will be a key focus of infrastructure development efforts broadly in SSA over the next decade.

 This is likely to be the case as governments in the region look to overcome a significant gap in both transport infrastructure access and quality. This will be a major driver behind the demand for commercial vehicles over 2021-2030.

Infrastructure Key Projects in SSA

According to Fitch Solutions’ Infrastructure Key Projects Database, fleet operators will make new commercial vehicle purchases over the second half of 2021, following preparations to start projects.

These include infrastructure projects above US$30million in value. Currently, SSA hosts a pipeline of 1,292 transport infrastructure projects either in various pre-construction stages or under construction. That said, the region’s pipeline involves a combined US$333.9billion in investment.

Apart from the increased spending in infrastructure, acute delays at major borders in the region will affect the region’s major economies. Thereby forcing fleet operators to expand their fleets to keep flow of goods moving.

Regional borders with persistent logistics challenges facing cross border supply chains across Africa include, the Beitbridge border between Africa and Zimbabwe, a vivid example for Southern African case. Although, this border has remained open to commercial trucks, congestion is a major challenge for regional supply chains that ply that border crossing, Fitch Solutions notes.

Moreover, in West Africa, Nigeria shut its land borders for more than a year from August 2019 to December 2020 reportedly to curb goods smuggling. Despite announcements of reopening in 2021, the policy environment remains unpredictable for traders.

In East Africa, fragile geopolitical relations in the region have necessitated sudden border closures without notice, thus disrupting regional trade flows. For instance, Uganda and Rwanda have closed some key shared borders on multiple occasions in recent quarters, forcing cross-border supply chains to seek alternative routes.

However, Fitch Solutions finds that the SSA region has weak logistics network compared to other global peers. It highlights the limited levels and poor quality of transport network connectivity. Also, this is due to the difficult and inefficient bureaucratic processes facing cross-border traders across the region.

READ ALSO: To reach net-zero by 2050, deploy more clean energy technologies- IEA

Tags: commercial vehicleFitch Solutionsfleet operatorsInfrastructure planprojects

Related Posts

Republicans Oust Ilhan Omar From Major Committee
USA

Republicans Oust Ilhan Omar From Major Committee

February 3, 2023
Putin Commemorates Battle Of Stalingrad
Europe

Putin Commemorates Battle Of Stalingrad

February 2, 2023
Pope Urges Congo’s Youth To Work For A Peaceful And Honest Future
Africa

Pope Urges Congo’s Youth To Work For A Peaceful And Honest Future

February 2, 2023
Top EU Officials Arrive In Kyiv
Europe

Top EU Officials Arrive In Kyiv

February 2, 2023
Australia To Remove British Monarchy From Its Bank Notes
Asia

Australia To Remove British Monarchy From Its Bank Notes

February 2, 2023
US, Philippines Agree On Larger American Military Presence
Asia

US, Philippines Agree On Larger American Military Presence

February 2, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post

Atebubu-Amantin Agro Processing Plant to begin operation by July

Next Post

Dr. Bawumia, naïve and clueless on technology issues- Haruna Iddrisu

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.
Closing Bell: A Black Thursday for the Ghana Stock Market, GCB Falls 10%
Securities/Markets

Closing Bell: A Black Thursday for the Ghana Stock Market, GCB Falls 10%

by Stephen M.CFebruary 3, 2023
Apple Inc., Amazon Inc. and Alphabet Inc. Witness An Economic Slowdown, Revenues Slump
Innovation

Apple Inc., Amazon Inc. and Alphabet Inc. Witness An Economic Slowdown, Revenues Slump

by Priscilla Dziedzorm FiakpornuFebruary 3, 2023
DDEP: An Ample Time To Consult, Engage Stakeholders Would Have Been The Solution- Prof. Lord Mensah
Finance

DDEP: An Ample Time To Consult, Engage Stakeholders Would Have Been The Solution- Prof. Lord Mensah

by Gifty BansahFebruary 3, 2023
Akufo-Addo Ousted Charlotte Osei And 2 Deputies Only To Be Replaced With Pro-NPP Members – Mahama
General News

What Will Mahama Do Differently – Anyidoho And Ken Agyapong

by Samuel Yeboah OtibuFebruary 3, 2023
Republicans Oust Ilhan Omar From Major Committee
USA

Republicans Oust Ilhan Omar From Major Committee

by Comfort AmpomaaFebruary 3, 2023
Stonebwoy Releases Brand New Single ‘More of You’
Entertainment

Stonebwoy Releases Brand New Single ‘More of You’

by Esther Korantemaa OffeiFebruary 3, 2023
Closing Bell: A Black Thursday for the Ghana Stock Market, GCB Falls 10%
Apple Inc., Amazon Inc. and Alphabet Inc. Witness An Economic Slowdown, Revenues Slump
DDEP: An Ample Time To Consult, Engage Stakeholders Would Have Been The Solution- Prof. Lord Mensah
Akufo-Addo Ousted Charlotte Osei And 2 Deputies Only To Be Replaced With Pro-NPP Members – Mahama
Republicans Oust Ilhan Omar From Major Committee
Stonebwoy Releases Brand New Single ‘More of You’
Snow
FIND OUT MORE

The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In