Wesbank commits to changes within the motoring industry
In life, change is the only constant and the pace is accelerating at an alarming rate.
WesBank CEO, Ghana Msibi, reaffirmed the company’s commitment at the recent 2022 naamsa | South African Auto Week (SA Auto Week) hosted in Kyalami.
“We, as WesBank, continue to position ourselves as a lifelong partner within the ecosystem in which we operate. This is a position we do not take lightly. We are privileged to be able to participate in and contribute to the development of the overall industry on various levels and are pleased that we were able to sit together at SA Auto Week to discuss issues that affect us all, beyond policy, in setting us up for a successful and sustainable future.
“This event was a first in bringing together representatives from all the major vehicle and asset financiers to share the stage and our combined experiences, under one roof, not on a competitive level, but on a sustainable footing. This is a massive step forward in my view.
“The future is challenging and daunting as we sit on the precipice of change. Now is the time to make the most of this historic opportunity as part of a generation that is reshaping the future of mobility. We participate in an industry that first moved from making ox-wagons to building vehicles powered by internal combustion engines and is now shifting to manufacturing and marketing new energy vehicles (NEVs) powered by a range of sustainable resources.”
The WesBank CEO went on to say that all involved in the automotive and related industries can be proud of the way they have recovered after Covid-19.
“Many industries have not been as fortunate. Our industry has shown resilience as we faced several major challenges. Collaboration between the various entities was important in the way we have emerged to face a future where the environment is changing dramatically. Our interactions have made the many learnings from SA Auto Week so beneficial to all the role players,” added Msibi.
The conference reflected on, among other issues, the past and present disruptions to production and sales, the global microchip shortage and changes in vehicle ownership patterns. The future of EVs within the South African context was also under discussion.
Large vehicle markets such as Europe have banned the sale of new vehicles with traditional internal combustion engines from 2030. This will dramatically affect the way vehicles are built, the industrial and tax policies in South Africa, vehicle finance models and South Africa’s relationship with global vehicle markets.
Msibi and several WesBank industry specialists shared their insights on various panels and platforms during SA Auto Week. He was also the keynote speaker at the inaugural 2022 naamsa Accelerator Awards, which recognised excellence across sectors within the automotive industry.
“Our objective in participating as a partner of the event is to reaffirm that WesBank is a life partner throughout the entire vehicle ownership experience. We are an innovative and trusted partner to our stakeholders, such as the OEMs, dealers and suppliers in this exciting industry.
“We tip our hat in appreciation to Mikel Mabasa, CEO of naamsa, and his team, for making this a reality, and to our colleagues in the industry for showing their commitment to building a vibrant and future-proof South African auto industry,” concluded Msibi.
Source: MotorPress
