Somotex hosts trade partners, sees immense growth in Nigeria

In a bid to position its trade partners for the opportunities that lie ahead of the country, Somotex, the exclusive distributor of Midea commercial air-conditioning systems in the country, has empowered its trade partners with its recent research findings on economic growth.

Speaking at an interactive session with the partners with the theme: Innovation for Creating new Possibilities, the vice president of Somotex Nigeria Limited, Ajay Singh, says Nigeria has enormous potential due to its size and population, which is in excess of 160 million; “Nigeria no doubt will perform better in near future, as the country is set to witness an immense growth in civil constructions and infrastructural development.”

According to Singh, in a statement, requirement for air-conditioning will grow exponentially, hence, he advised key dealers of Midea and users of commercial air-conditioning systems to be positioned for the opportunities that will begin to come to the fore very soon.

As an investor in the country with diversified business interests spread across commercial air-conditioning; consumer electronics and home appliances; electrical LT switch gears, cables and inverters, and automobile tyres, the Somotex vice president says business challenges in the country are basically access to funds, paucity of infrastructure and project delays that eventually reduces the profit margins and delay in payments.

Despite these challenges, which include the recent insurgent in some parts of the North, it is interesting to note that the return on investment (RoI) in the country is one of the best in the world. This he explains, directly infers that as conditions improve and normalcy returns to the troubled spots, local and foreign investors, and the citizenry in general will be the better for it.

Insisting that infrastructure growth will fuel the economy, in the same token, he reckons all Midea heating, ventilation and air-conditioning businesses will experience exponential growth, assuring the participants of the quality of Midea range of commercial air-conditioners, which he discloses is fast gaining ground in the growing Nigerian industrial sector.

At the Lagos forum, Singh discloses that Somotex and Midea commenced the alliance in 2007, to distribute the Midea brand of commercial air-conditioners in the country. As a strategy, the heating, ventilation and air-conditioning business operates as a special business unit because it requires constant follow up and touching base with sub-dealers, consultants and clients. “As a policy, we devote time and enormous resources to delight this set of customers by giving complete solution right from design stage to execution and after-sales services,” he discloses.

With grand scales projects spread across the world such as the Brazil 2014 World Cup stadium in Mato Grosso, Midea is reputed to have brought technological innovation to commercial air-conditioning on a global scale.