The Germany Technology Giants, Bosch Company is eyeing the Tanzanian tech market.
This has seen the firm hold a crucial meeting with the Minister for Investment Angela Kairuki in Tanzania Investment Centre’s (TIC) office, Dar es Salaam on February 6th, 2019.
Bosch Company is a world leading multinational engineering and electronics company whose core operating areas are spread across four business sectors; mobility solutions (hardware and software solutions), consumer goods (including household appliances and power tools), industrial technology (including drive and control) and energy and building technology.
The delegation expressed strong interest to invest in Tanzania in various technological solutions after realizing the huge potential the country has in terms of growth and opportunities including automobile assembly. The Bosch delegation was led by the Germany Deputy Ambassador to Tanzania Jörg Herrera.
According to Mr. Uwe Raschke who is the member of the board of management of Bosch, their company is aiming to invest in cost efficient gas-using-heaters for real estate developers, fleet efficiency systems for transporters, mining technologies, railways and airport communications and safety solutions. Further, Mr. Raschke who is also responsible for coordinating activities in Western Europe, Middle Eastern Europe, Russia, the Middle East and Africa noted other areas they are looking to venture in is construction of automobile inspection centers and automobile repair centers.
He noted how their company is looking for local partners to implement their plans, which includes transfer of knowledge through working with Vocational Training Centers for training local population on technical skills of using the technologies they bring.
The company is expected to start with franchising of 50 state-of -the art automobile repair centers, which would cost them Tshs.787 million ($342,391) each and local partners would contribute up to Tshs.26.2 million ($11,413) per Centre.
The cost efficient gas heaters, can be used for domestic (bathroom and kitchen), hospitals, hotels and real estate complexes. As long-term plan, they will consider investing in manufacturing or assembling plant for automobile. According to their research, the East Africa region has the market for between 600,000 and 1,000,000 brand new cars.
Bosch has invested in 13 countries in Africa and Tanzania is their latest destination. Bosch has a presence in South Africa, Angola, Mozambique, Egypt, Ghana, Nigeria and Kenya among others. The company`s equipment is expected to be used at the yet-to-be completed terminal 3 of the Julius Kambarage Nyerere Airport which will facilitate 6 million annual passengers including parking lots, access roads, platforms and taxiway.
Source: The Exchange