India’s largest utility and tractor
producer, Mahindra and Mahindra, has set up an Africa-focused business
unit as it looks to maintain double-digit growth levels in the
continent, the company said on Tuesday.
With an active presence in 20 African
countries, Mahindra and Mahindra hopes the aggressive expansion will
help spur a 10-fold increase in business over the next five to seven
years.
“There is no doubt that the African
continent holds tremendous potential and the new African business unit
will place Mahindra in a very strong position to strengthen its African
presence,” Ashok Thakur, chief executive of Mahindra’s local South
African unit, said in a statement.
Thakur will lead the newly-established
continental business unit, based in South Africa, with additional
business hubs planned for Kenya, Nigeria and Egypt.
South Africa will act as a central
distribution channel for all products manufactured within the group,
including utility vehicles, tractors and trucks.
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