Samsung Made $1.23b in Africa – To Develop 10,000 Electronics

Samsung Electronics Africa realized, in revenue, $1.23 billion in 2010, which resulted in 31 per cent growth rate in Africa and contributes to the company’s $135.8 billion in global revenues. That is not a huge number, but commendable. We are still less than 1% of their revenue stream and you do not cry for your 1%. The cool deal is that African revenue will grow as ICT penetrates.

 

In discussing the company grand strategy for Africa, the head of the Africa team, Mr. K. K. Park, stated

 

“Our products not only make peoples’ lives easier and more enjoyable, but they can also contribute to solutions for social and environmental problems. One example of this effort is our flagship programme – Samsung Electronics Engineering Academy (SEEA), which was created to develop young leaders for Africa’s future. The launch of SEEA was created to align Samsung’s CSR vision – ‘Built in Africa, for Africa, by Africa.’ Four schools will participate in the pilot programme. Samsung intends to develop 10,000 electronics engineers in Africa by 2015,” he stressed.

 

It is very evident that all the major technology companies are battling for the soul of Africa as the Western market saturates. Bringing the plants to Africa will go a long way to making that possible. They should be acquired to engage in technology transfer and not just sales and distributions. This is what Africa needs at the time to develop competence and capacity in this evolving world.

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