Bosch, a major player in four business sectors; Mobility Solutions, Industrial technology, Consumer Goods, and Energy and Building Technology is confident that Nigeria – Africa’s largest economy – holds an immense potential that would help shape its long term growth story.
Bosch, which recently announced its intention to expand its international presence by broadening its activities in the West African market say it will leverage on its huge expertise, competitive products to grow and consequently deepen its market share in the country.
“Bosch sees Africa in general and Nigeria in particular as an important long-term growth market. We see high potential for our business in this region.
“Thanks to its rapidly-growing population, low median age, increasing middle class and optimistic economic forecast,” Uwe Raschke, a member of Bosch’s board management said in a statement made available to BusinessDay.
On the company’s business strategy in Nigeria, Raschke said his team will first study to understand the market and then seeks ways Nigerian consumer needs can fit into Bosch’s product’s offerings.
According to him, Bosch specifically sees large potential in the consumer goods sector in Nigeria, such as household appliances and power tools.
“We believe our products will fit very well with what consumers need,” he stressed, adding that the firm expects a significant demand for its products ‘invented for life’.
For its focus on food processing, energy and infrastructure industries, the company says it will particularly focus on catering to demand in the food processing as well as energy and industries – working closely with local partners to ensure the best customer benefit and, on a larger scale, the benefit of Nigeria’s economy and society.
The company says it has also entered into alliance with the Nigerian Automotive Council (NAC) to pave the way for the development of technical skills in the automotive after sales sector, adding that as the number of cars in Nigeria road rises, the demand for skilled maintenance and state-of-the-art repair workshops also soar.
Both partners plan to offer technical training as well as innovative solutions in the area of workshop and test equipment to the operators of automotive workshops through out the country.
“Our partnership with the NAC demonstrates our long-term commitment to Nigeria. Bosch aims to further develop the technical competence of the local workforce especially in the automotive industry for the mutual success of the Nigerian industry and Bosch’s business in this country,” Markus Thill, Bosch Group’s President for Africa.
According to Thill, the opening of a location in Nigeria further reaffirms the company’s aim to expand its presence in West Africa.
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