Accra, Oct 13 (IANS) Indian motorbike manufacturer Bajaj Auto has forayed into the Ghanaian market by teaming up with Somoco, a local company.
"Ghana's motorbike market is estimated to be about 100,000 units per annum," Bajaj Auto said in a statement.
It added that demand has grown rapidly in the last few years thanks to a growing middle class and the company was aiming to be the market leader in three to five years' time.
Somoco is a subsidiary of the Mohanani Group, a leading second generation family business group of Indian descent that employs over 3,000 people in multiple sectors, ranging from manufacturing, packaging and plastics to trade and distribution of chemicals, polymers and consumer durables.
Last year, Bajaj Auto sold more than 600,000 units across Africa and has created a lot of appeal with its brand, Boxer, which has pushed the company to sixth rank out of ten top motorbike sellers in Africa, according to the company's statement.
Bajaj Auto exported 1.5 million vehicles, including two- and three-wheelers last year and has been ranked the third largest motorbike manufacturer in India.
It produced produced 3.83 million motorbikes last year and over 515,000 three-wheelers.
Its Boxer brand commands a market share of 90 percent in Uganda, 40 percent in Nigeria, 35 percent in Angola and 30 percent in Kenya, the statement said, adding that one of the main success factors, apart from the quality of the motorbike has been the company's ability to cater to the service and spare parts requirements of its customers in these countries.
(Francis Kokutse can be reached at fkokutse@hotmail.com)
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