Bosch unveils investment agenda in Nigeria’s automotive industry

With a potential for growth, Bosch, a global supplier of technology and services has unveiled plans to raise its stakes in Nigeria’s automotive industry as well as in product offerings that would improve the quality of life in four business sectors of the nation.

Specifically, the company noted that with the official opening of its new sales, marketing and service subsidiary in Lagos, it hopes to maximize the potential in Nigeria and West Africa’s long term growth market.

“We see high potential for our business in Africa. Thanks to its rapidly growing population, low median age, increasing middle class, and optimistic economic forecast we expect a significant demand for Bosch product ‘invented for life,” a member of Bosch’s board of management, Uwe Raschke, said at the opening ceremony of the company’s office in Lagos, recently.

Indeed, Raschke noted that the company’s sales, marketing and service office in Lagos, would cover all of Bosch’s four business sectors –mobility solutions, industrial technology, consumer goods, and energy and building technology.

The company had in October 2014, set up an alliance with the National Automotive Council (NAC), to pave the way for the development of technical automotive skills and the establishment of a network of automotive workshop in Nigeria.

“As the number of cars on Nigerian streets rises, so will the demand for skilled maintenance and state-of-the-art repair workshops. The two partners plan to offer technical training as well as innovative solutions in the area of workshop and test equipment to the operators of automotive workshop throughout the country.

“Our partnership with the NAC demonstrates our long-term commitment to Nigeria. Bosch aims to further develop the technical competences of the local workforce especially in the automotive industry for the mutual success of the Nigerian industry and Bosch’s business in this country,” Bosch Group’s President for Africa, Markus Thill said.

The company also said its offerings will particularly focus on catering to demands in the food processing as well as energy and infrastructure industries- working closely with local partners to ensure the best possible customer benefit and, on a larger scale, the benefit of Nigeria’s economy and Society.

“By opening a location in Nigeria, we’re taking a decisive step forward in expanding our presence in West Africa,” Thill added.

Indeed, the company, which generated sales of some €350 million in Africa in 2014, added that with the new location in Nigeria, Bosch will have a presence in ten African countries by the end of this year.

Already, the company currently employs more than 750 associates in Africa, while its representatives noted that depending on the further business development, plans are underway to increase this figure in the next years.