It is opening its first concrete admixture and mortar production facilities in Nigeria and Ivory Coast and has established new subsidiaries in Ethiopia and Tanzania targetting growing markets in the Sub-Saharan region.
Sika had established a subsidiary in Nigeria and Ivory Coast last year and is now investing in local production facilities in both countries to supply the booming construction, refurbishment and maintenance markets. Nigeria has roughly 180 million inhabitants and an expected annual growth rate of approximately 5%. With 23 million inhabitants, Ivory Coast represents one of the smaller African countries, but Sika sees it too as offering promising growth potential. Cement consumption in both countries is expected to grow by 9% this year.
Paul Schuler, regional manager EMEA, said: “Our new production facilities in Nigeria and Ivory Coast and our new subsidiaries in Tanzania and Ethiopia represent another milestone in the consequent execution of Sika’s Strategy 2018. With the latest investments we will further accelerate our growth in Sub-Saharan Africa and increase Sika’s market share. It demonstrates our strong belief in the potential and the prosperous future of the continent.”