As the fund embarks on its next chapter, in alignment with the Automotive Production and Development Programme (APDP 2), AITF calls on bold, visionary entrepreneurs to apply for funding and join in driving the future of the industry.

Addressing the media and delegates at the start of the South African Auto Week (SAAW) conference in Cape Town, hosted by the naamsa (the automotive business council), AITF Chief Executive Officer, Jabu Selumane, reflected on the remarkable progress made since the fund’s inception and its commitment to creating a more inclusive, thriving automotive industry.

“In just a few short years, we’ve surpassed expectations – funding over 67 companies and distributing R596 million across the automotive value chain. Our goal is to support 90 companies by 2029, and we are well on our way to achieving that.”

Founded in 2020 as a collective Equity Equivalent Investment Programme (EEIP) by seven automotive original equipment manufacturers (OEMs) – BMW, Ford, Isuzu, Mercedes-Benz, Nissan, Toyota and Volkswagen – the AITF is setting a new standard for transformation. By offering market access, funding and business support to black-owned companies, the AITF has empowered entrepreneurs from all corners of the automotive industry, from panel beaters to car dealerships and component manufacturers, fostering job creation and economic growth along the way.

“The impact of our work goes far beyond numbers,” Jabu explained. “We are not just creating opportunities – we are creating legacies, businesses that will stand the test of time in an evolving sector. From upstream to downstream, our beneficiaries are shaping the future of South Africa’s automotive industry, bringing innovation and resilience into a challenging economic landscape.”

AITF’s transformative efforts have also introduced a vital focus on gender equity. “We set a goal to allocate 30% of our funding to women-owned businesses, and I am proud to say that we have achieved that milestone,” he announced. “This isn’t just about meeting targets; it’s about exceeding expectations and driving meaningful change. The OEMs involved are not simply ticking boxes – they are invested in building a future that reflects South Africa’s diversity and talent.”

In response to the unique needs of the sector, AITF has diversified its financial offerings – introducing long-term funding, equity-like investments and preferential loans. “We’re removing the traditional barriers that have kept many Black entrepreneurs from accessing the funding they need. Our aim is to provide low-risk, flexible financing that aligns with the realities of the automotive industry so that our beneficiaries can focus on growth without being weighed down by financial strain.”

In line with APDP 2 amendments on B-BBEE, the AITF is set to unlock even greater opportunities for entrepreneurs across the entire value chain. “We’re expanding our focus beyond the original seven OEMs to include Tier 1 manufacturers, opening the door for even more entrepreneurs to contribute to the localisation of the industry,” Jabu noted.

By fostering innovation and investment in key areas like new energy vehicles (NEV) infrastructure, battery manufacturing and sustainable production, AITF is positioning South Africa to compete globally in the rapidly changing automotive landscape.

Looking ahead, the AITF aims to be a key enabler of transformation not only within the automotive sector but across South Africa’s economy. “We believe that collective action and strategic partnerships are essential for sustainable growth,” Jabu concluded.