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TATA International plans to enter East African markets in 2016, in a move to boost both imports and exports.
TATA International, the global trading and distribution division of Tata Group, is said to enter the Ethiopian market in 2016, among other African countries.
“We are already present in 12 nations such as South Africa, Kenya, Ivory Coast, Nigeria, Tanzania, Zambia, Zimbabwe and Uganda. Our presence is more in the Eastern region of Africa as it is politically more stable. In 2016, we will be entering Angola and Ethiopia”, said Ajay Mehra, Executive Director at Tata Africa Holdings (Tanzania) and Head of Non-Auto Distribution at Tata International.
Kenya represents the company’s largest market in Africa, followed by Tanzania and South Africa. According to Mehra, the company employs 1,800 people in Africa and 10,000 people globally.
Tata International is India’s largest exporter of leather and shoes. In 2012, it announced a long-term strategic alliance to manufacture and distribute the American Aerosoles shoe brand. The company reported a turnover of US$2.2 billion in 2014-15, up from US$1.7 billion in 2013-14, and expects a growth of around 15% this fiscal year.
Founded in 1962, the Group is engaged in the production of leather and leather products as well as metals and minerals’ trade, distribution of auto and allied products, agri-trading (both imports and exports), trading and distribution of industrial chemicals, drugs and medical devices, and IT services.
Sources: Money Control/Reuters