U.S.-based 3M, maker of myriad consumer products, sees mining, oil and gas as potential industries for future growth in Africa, along with energy and healthcare, according to a report in NewBusinessEthiopia.
Already established in Africa for 40-plus years, the company hopes to improve coverage on the continent and accelerate future growth by restructuring its business on the continent into two zones – South Africa and the rest of Africa.
More than 400 people are employed with 3M across Africa.
A new 3M Africa region will include North, East, Central and West African countries of Egypt, Morocco, Algeria, Tunisia, Libya, francophone countries, Kenya, Tanzania, Uganda, Ethiopia, Democratic Republic of Congo, Zambia, Angola , Nigeria and Ghana.
The company has $30 billion in sales and 88,000 employees in 70 countries, producing thousands of products in areas from health care and highway safety to office products, abrasives and adhesives, the report says.
3M South Africa will consist of South Africa its border countries of Namibia, Botswana, Zimbabwe and Mozambique. 3M has done business in South Africa for 40-plus years and more than 10 years in the North Africa region. Operations in Kenya and Nigeria started in 2012. 3M has already secured an African foothold in healthcare, safety, communication and automotive industries, the report said.
“Six of the world’s fastest growing countries are in Africa and the continent has been a key priority for us,” said Walid Feghali, managing director for 3M Africa. “The restructuring of our organization in Africa will help us further expand our presence, explore new opportunities and build local capability to increase penetration.”
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