The future of global mobility is driven by 5 mega trends: Connected, Autonomous, Electric and Shared vehicles. Each of these trends are at varied degrees of adoption across the globe. As we look closer to the African continent and more specifically South Africa (SA), we are posed with a unique set of circumstances that drive a unique set of opportunities for all players across the automotive ecosystem.

The traditional vehicle ownership model In SA has been largely linked to a consumer’s ability to be credit worthy and successfully attain vehicle finance. However, in SA, this is a consumer segment that is increasingly under pressure. Of the 33M financially active consumers, only 23M are credit active and almost 50% of that have some form of adverse credit history and on average amongst the millions of finance applications done on an annual basis (only +- 15% is taken up).

South African consumers have an affordability and an accessibility issue when it comes to vehicles, not an ownership issue. The key opportunity is solving for access to mobility rather than the ownership of a vehicle.

With almost 11M vehicles in the Car Parc, only 2.4M of which are financed, 3M insured and only around +- 500K new vehicles sold and around +-500K new and used vehicles financed annually.

Kredo Mobility’s commitment and belief is that there is unique opportunity in partnering with clients to unlock the potential of mobility in SA.