LAGOS, Nigeria — The Bosch Group has opened a new office in the country as part of a strategy to increase its presence in Africa, according to a press release.
The company aims to be in 10 African countries by the end of 2015, noted the release. It currently has 760 associates on the continent.
“Africa offers great potential for our business,” said Uwe Raschke, a member of the Bosch board of management, at the official opening ceremony. “The economic forecasts for many African countries are very promising: The population is growing rapidly, the average age is low and the purchasing power of the emerging middle class is rising.”
Nigeria is the most populous country in Africa with more than 170 million people, stated the release. This gives Bosch greater access to the continent as a whole.
Bosch’s African sales were around 350 million euros in 2014, reported the release. It has had a presence in Africa since 1906.
With other companies, Bosch offers scholarships to allow African junior executives to spend a year in Germany to complete a professional training program, shared the release.
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