Tata Group is pressing for expansion in Africa through its various business verticals,expecting its revenue from the continent to grow by 30 per cent every year from the current level of $2.3 billion.
While Tata Motors is looking to set up new assembly facilities through local partners in countries like Tunisia and Kenya,the groups hospitality chain Taj Hotels Resorts and Palaces is also considering proposals from three-four countries to set up new properties.
The business models which work in India can work in Africa and we would like to widen and deepen our business in Africa, Tata Sons Brand Custodian and Chief Ethics Officer Mukund Govind Rajan said.
He said the group is currently present in 20 countries in Africa through its nine different companies with a total revenue of $2.3 billion. The group has so far invested a total of $1.7 billion in the continent.
When asked about revenue growth from the continent in future,Tata Africa Holdings MD Raman Dhawan said,It is expected to grow at around 30 per cent every year. Tata Africa Holdings serves as the headquarters for Tata operations in Africa.
Commenting on the plans for assembly operations,Tata Motors Head International Business (Commercial Vehicles Business Unit) RT Wasan said,We are looking at new assembly operations in Tunisia and Kenya through local partners.