Siemens has outlined plans to significantly boost its ventures in Africa by adding about €200 million in investments over the next two years.
The first large-scale wind and solar projects in Africa will probably be announced later this year after several countries have created the political conditions required. “Africa offers Siemens vast opportunities for growth. As a green infrastructure pioneer, we’re a natural partner for mastering the continent’s major challenges. Renewable energies, in particular, have a huge potential in Africa,” said Siemens President and CEO Peter Löscher at celebrations marking Siemens’ 150th anniversary in South Africa.
Siemens has bundled its individual African companies into five sales regions, and changed the setup of its business in the African growth market of Angola. There are more than 3,000 employees in Siemens’ Cluster Africa, which includes more than 50 countries.
In 2009, Siemens announced its intention to more than triple new orders in the Cluster to €3 billion by the end of fiscal 2012. In fiscal 2009, the company’s orders in the region came to slightly less than €1 billion. In fiscal 2012, the African market served by Siemens will have a total volume of a little less than €30 billion a year, and the company expects to have doubled its share of this market to 10%.
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