- Volkswagen brand expands its business in Sub-Saharan Africa by signing a Memorandum of Understanding (MoU) with Ethiopia
- Volkswagen is contributing to the fast development of the country by founding an automotive industry
- MoU is based on: vehicle assembly, localization of automotive components, mobility concepts, opening of a training center
Volkswagen develops automotive industry in Ethiopia
Volkswagen brand continues its engagement in emerging countries in Sub-Saharan Africa. In the presence of Frank-Walter Steinmeier, President of the Federal Republic of Germany, a Memorandum of Understanding (MoU) was signed by Thomas Schaefer, Head of the Volkswagen Sub-Saharan Africa Region, and the Commissioner of the Ethiopian Investment Commission (EIC), Abebe Abebayehu, today. Thereby, Volkswagen is taking the fast development of the country into account. Over the last ten years, the GDP growth rate in Ethiopia was above 8 percent – one of the highest worldwide. Moreover, Ethiopia is a priority and focus country for Germany under the G20-“Compact with Africa” initiative.