A body representing South Africa's catalytic converter manufacturing industry has said that introducing export credits on the devices would help create additional jobs in related sectors.

The Catalytic Converter Interest Group said that there was still significant potential for the sector in South Africa.

"What is needed to unlock this potential is for catalytic converters to qualify for the same export credits as other automotive components," the group said.

"Currently, much of the value of the catalytic converter is discounted – even though the industry is the biggest beneficiator of South Africa's precious minerals wealth."

Catalytic converters make up the largest share of any automotive component in South Africa's export industry.

South African catalytic converters make up 14 per cent of total global demand for the device. More than ten million converters are exported each year, adding R9.8 billion to the country's economy.

Pgms are used as catalysts in the technology. South Africa produces over 60 per cent of the world's platinum group metals.

Ÿ Adfero Ltd