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VENTURES AFRICA – Kenya’s growing middle class has opened the door to investments with international investors flooding in to exploit opportunity presented by the class’ increasing demand for luxury.
Bosch Group is the latest investor to cash in on the opportunity, with the opening of a sale and service subsidiary in Kenya.
The subsidiary, which opened yesterday in Nairobi, Kenya’s capital city, will start operations with five associates that will offer auto parts and testing equipment. Other services will include security systems, power tools and workshop concepts.
“This entry into the east African market is an important milestone for Bosch. It shows the strategic importance we attach to east Africa,” said a Bosch Board member Uwe Raschke.
Bosch plans to extend its expertise to other parts of Africa, including, Nigeria, Ghana, Mozambique, Angola, Tunisia and Algeria before the end of 2014.
Second hand cars, according to an official of Investment firm Actis who just bought into Kenyan auto parts company AutoXpress, dominate Kenyan market.
Users of second hand cars will have Bosch to thank later with affordable auto parts, among other services brought closer to them.
“Our focus is on affordable, Bosch-quality products that are adapted to the requirements of our customers,” Raschke said at the opening ceremony of the new subsidiary in Nairobi.
With a 108-year experience on the continent, Bosch is ready to continue its culture of low-cost quality delivery.
The German company also gives back to the continent; actively promoting talented young people in sub-Saharan Africa, with programs like “Afrika kommt!” a German business program for junior executives from the region, which Bosch initiated with other companies.