Schneider Electric to boost investments in Egypt
The company invests $26bn around the world, including $1bn in Africa, which accounts for a good share of the company’s sales
Schneider Electric aims to increase its investments in Egypt by 10%, said Head of the company in Africa and the Caribbean, Mohamed Saad.
The company invests $26bn around the world, including $1bn in Africa, which accounts for a good share of the company’s sales.
Saad told Daily News Egypt that Schneider Electric aims to expand its projects, whereby it currently operates in 120 countries, including 50 emerging countries in Africa, which require more electricity than other developed countries. He said that 1.4 billion citizens do not have electricity around the world and 50% of them are in Africa.
He explained that Schneider Electric has an interest in the Egyptian Market, as it is one of the strategic markets that can help the company expand to other countries in the Middle East and North Africa.
Schneider Electric has implemented many major projects in Egypt, including the third metro line, the Marg water sanitation plant, the Ministry of Electricity’s emergency plan, expansion of Cairo Airport, and the Sukari gold mine.
Saad said the Egyptian market was very attractive for investment, noting that the company is in contact with the government to remove obstacles facing their projects in Egypt, including the dollar shortage. He further affirmed his certainty that the government will help investors.
He explained that Schneider Electric is working on studying the market’s requirements and coping with its developments by choosing the latest products for their operations and basing the company in geographically strategic locations, such as Egypt, South Africa, Nigeria, Algeria, Morocco, Kenya, and Tunisia.