No doubt, the global collectible car boom is on. Projections estimate that value will reach $54.2 billion by 2032. Europe is losing its dominance fast, with North America on the verge of overtaking it. What about Africa? Should it be left behind? I don't think so.
Africa's Untapped Automotive Goldmine
Think about it: Africa has a rich history, vibrant culture, and a rapidly growing youth population hungry for opportunity. This continent is bursting with opportunity. It’s an underdog, lost in the bright glare of the star-studded pageant of vintage Ferraris and classic Mustangs. What if we could revolutionize the whole collectible car market? Instead, let’s transform it from an exclusive playground for the wealthy elite into a platform that empowers a new generation of African entrepreneurs.
I’m not just referring to the importing/flipping cars scheme. Let’s take advantage of the irreplaceable skills, ingenuity and resources of everyone across this great continent. With determination, we can create a dynamic, genuine African collectible car market! That ‘Local Impact Meets Opportunity’ subtitle is the hook.
Classic EVs and African Ingenuity
The popularity of new collector EVs and electric classic conversions is a huge opportunity. Picture this—African youth mechanics and engineers, honing their craft and turning old petrol guzzlers into clean, green, electric machines. Imagine the tremendous potential to both protect our planet and open new economic avenues.
It's not just about the technical skills. It's about creativity, craftsmanship, and storytelling. Imagine these beautiful, restored automobiles as something other than machines. They’re gorgeous pieces of African art, each one filled with a different story to tell. This is where African ingenuity can shine.
This blends perfectly with another trend: NFT car ownership certificates. With his experience in DeFi and NFTs, Thabo can contribute to developing transparent, decentralized, and accessible investment opportunities for African youth. Now picture that experience with a highly collectible, fully restored classic car, all recorded on the blockchain and secured by this technology. It opens up capital, leveling the playing field of investment and enabling participation from anyone, anywhere in the world.
From Mechanic to Millionaire
I know what you're thinking: "Easier said than done." Unreliable access to capital, infrastructure, and education are big hurdles. But these are not insurmountable.
Here's where decentralized finance (DeFi) comes in. Place-based programs Community-led, place-based initiatives can help to funnel more resources and encouragement to local young entrepreneurs. Now picture the same DeFi platform but it only allows investment in verified African collectible car projects. Investors, both domestic and global, have an essential role to play in delivering this change. Their investment money literally powers job creation and skill building all over the continent.
This isn't just about making money. It’s not just about creating an innovative, sustainable industry that empowers communities. In sum, it’s about cultivating a workforce, protecting African automotive heritage, and economic empowerment. It’s not about making classic car enthusiasts millionaires, it’s about making young mechanics millionaires, one restored classic at a time.
Think about the wonder when someone first sees a beautiful classic car. It’s brilliantly restored, beautified, converted to electric power, and accompanied by an NFT certificate of ownership—all made possible by the genius of African ingenuity.
Anger Fueling Innovation in Auto?
Sure, there will be challenges. Bureaucracy, corruption, lack of prepared infrastructure – the list just keeps continuing. While these challenges may be troubling, they can be the wellspring of anger, the mother of all motivators for tackling tough problems. This anger can be a powerful catalyst for innovation, motivating young entrepreneurs to discover inventive solutions and restore our country’s brighter days.
The worldwide market for collectible cars is only expected to increase. Africa deserves a piece of that pie. It's time to shift the narrative. Reconsider your view of Africa with us. Africa is a continent full of promise and potential, not merely a place of suffering and sadness.
That future generation of billionaires may not be created in the next tech or finance companies after all. Or in their garage, working on a restoration project on their way to owning their own shop and a better future for them and their community. Let's make it happen.
