African electric motor distributor, Zest, has revealed its plans to increase its share of the African market following its acquisition by Brazil-based group WEG
Zest has distributed WEG products in Africa for more than three decades and began representing the company in the southern African region 12 years ago. Louis Meiring, group managing director at Zest, said that following the purchase by WEG of a controlling share in Zest late in 2011, the African market will be targeted for further business opportunities.
“We are now responsible for marketing and distributing WEG’s products across the continent, which is experiencing a resurgence in interest from international investors and project houses. The Zambian Copperbelt and West Africa offer significant growth opportunities for the group and we aim to be awarded new contracts in these areas, as well as other areas where projects activities are robust,” said Meiring. “We plan on investing a great deal of time and resources to grow our African market share, which we believe will result in enhanced revenues for the group.”
To date the company has worked in countries including Ghana, Namibia, Zambia, Kenya, Botswana and Mozambique and plans to become more active in Angola, Burkino Faso, Cameroon, Ivory Coast, Mauritania, Nigeria and Zimbabwe.
The company has appointed Quentin Korff as its African business development manager who is evaluating the opportunities and challenges in various African countries. “Once we have a good understanding of the priorities, requirements and risks specific to our targeted markets, we can decide how to best service these markets,” he said.
Group company, EnI already has offices in Ghana, Zambia, Mozambique and Tanzania and offices will be established or distributors appointed in other countries depending on the demand for its products and services as well as the potential challenges associated with doing business in each country.
“We see the huge potential for growth in the African market and we intend to put down roots across the continent. We are not interested in making a quick sale and moving on, we are in Africa for the long term,” said Meiring.
