Samsung Electronics To Announce South African Plant in Durban
The world’s largest smartphone maker is coming to South Africa. Samsung Electronics Co. will open a plant in country, according to a Trade and Industry Department official. The company said it will make an official announcement in two weeks, reports Bloomberg.
The facility will be located at the Dube TradePort, a duty-free area adjacent to the harbor in the eastern city of Durban. Trade and Industry Director-General Lionel October said it’s one of several special economic zones the country is organizing up to encourage investment.
“We have worked with Samsung and they identified the Dube TradePort as a space to operate from,” he said. President Jacob Zuma “will launch the special economic zone within a month or so and the first investment anchor will be Samsung,” he said. The company will make an official announcement within the next two weeks, Stefanie Bosman, a spokeswoman for its local office, said in an e-mailed response to questions.
The South Korean company is looking to make a major slash in Africa, with target sales of $10 billion annually by 2015, the Seoul Economic Daily reported. It might just do that as the number of mobile-phone users is expected to rise 43 percent to 346 million by 2017 from 2012 in sub-Saharan Africa, the fastest-growing region.