German firm targets 25% market share in Nigeria, SSA

• Borch canvasses more awareness against grey market

German multinational engineering and electronics company, Borch has revealed plans targeted at increasing its market share in Nigeria and other sub-Saharan African countries from 15 per cent in 2015 to 25 per cent this year.

The firm said as Africa comes into focus, Borch is growing increasing interest in key markets by strengthening its presence in the region, with Nigeria being in core focus.

With over 80 years of operating through its distributors and dealers in Nigeria, Borch said it has opened a new sales and service outlet in Lagos.Regional Sales Director, Benjamin Ofori said Africa offers great potential for Borch businesses with Nigeria leading the pack as the biggest economy on the Continent, with more than 170 million people and an emerging class “doing business with Nigeria is a step in the right direction for us at Borch Group.”

Ofori, who said the Borch Group is renowned for its leadership in mobility solutions, industrial technology, consumer goods, energy and building technology, informed that the German firm is determined to establish those four major segments in Nigeria and the rest of SS with local offices already established in Algeria, Angola, Egypt, Kenya, Ghana, Morocco, Mozambique and Tunisia.

The Borch executive informed that the firm has set a 200 million Euro target by 2020, stressing that the company eyes 40 million Euros from West Africa and about 15 million Euros from Nigeria. He said the firm sold 50 million power tools in 2015, recorded 4.5 billion Euros in 2015 as against the 4.1 billion Euros made in 2014.

The Regional Sales Director emphasized the importance of power tools to increase efficiency in output and overall growth of businesses.“The major significance of the power tools dealership event is to underline the commitment of Bosch in Nigeria at building and fostering sustainable business relationship with customers and also build confidence of the brand in the market”, he stated.

According to him, the power tools division stands for customer focus and great engineering progress and has recorded significant successes in innovation of power tools, power tool accessories and measuring tools.He stressed that the German company is also committed in empowering young talent in SSA where they initiated the AFRIKA KOMMT, a program, which is engineered towards empowering young budding African business leaders.

According to him, Bosch in partnership with various companies offers scholarship programs to junior African executives so that they can spend a year in Germany completing professional courses. He stressed that the goal of the program is to foster mutual exchange and learning between African executives and German companies.

On grey market menace, Head of Sales, Borch Nigeria, Jan Mayer, said Nigeria being the largest market in Africa must lead the campaign in the war against counterfeiters.According to him, there is still need for more awareness, education and sensitization about the dangers of purchasing products from grey markets.He said the firm would do more of awareness and engaged with the necessary authorities in the country to step up the fight against fake products.