An Indian multinational auto manufacturer, Mahindra and Mahindra Limited, has said it plans to tap new opportunities and strengthen its focus in Africa by setting up a new business unit in Nigeria.
A statement by the Senior General Manager Communications, Mohan Nair, said the new unit would be headed by Mr. Ashok Sharma, the President and Chief Executive Officer, Mahindra Agric Business and the Group Executive Board member.
Sharma said, “Nigeria offers opportunities for all the verticals within the automotive and farm equipment sectors, notably automotive, tractors, agric businesses, generators, trucks and buses and two wheelers.
“This is in line with our focused strategy of introducing ‘One Mahindra’ in Africa where we shall offer our entire galaxy of products and services through a single window. Our Nigerian operations will be handled by a few experts and a significant number of the local population, who will aid us further in getting acquainted with the Nigerian economy and culture.”
The statement added that the group considered West Africa an important region with special focus on markets like Nigeria and Angola. As a part of its plan to tap into the $1bn opportunity in Africa by 2020, Mahindra said it would work towards intensifying current business operations, enhance sales and service capability.
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