Panasonic to Enter into Potential Electrical Construction Materials Market in Tanzania - 21 September 2014

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Panasonic to Enter into Potential Electrical Construction Materials Market in Tanzania

DAR ES SALAAM, Tanzania - Friday, September 19th 2014 [ME NewsWire]

(BUSINESS WIRE) Panasonic Marketing Middle East & Africa (PMMAF) – the regional headquarters based in Dubai, UAE for Panasonic Corporation, Japan and a leading player in the environmentally friendly eco solutions category is looking to expand in the potential Tanzania market, as part of its thrust in the East African markets. Having crossed milestone achievements with its “Eco Solutions” product category in the Middle East, the company aims to achieve accelerated growth in the fast growing African markets.

The launch marks the beginning of a new phase where new innovative, highly efficient, durable and a broad spectrum of wiring accessories, protection devices like circuit breakers, distribution panels and air moving solutions like ventilation fans, ceiling fans, electric fans, stand fans etc will all be made available under a common platform.

The new category launch announced by Panasonic Marketing Middle East & Africa along with its valued and esteemed business partner United Traders LLC, Tanzania was well attended by over 200 guests encompassing Architects, Consultants, Contractors Dealers, and Developers. Alongside Mr Tatsuya Kumazawa, Director, Eco Solutions Category, Panasonic Marketing Middle East & Africa, the event was graced by other top officials from Panasonic Corporation in Japan and senior officials from Tanzania.

Speaking at the launch, Tatsuya Kumazawa said, “According to a recent report published by the African Economic Outlook (AEO), the economy of Tanzania is projected to grow by around 7% in 2014 and 2015. The country is currently witnessing an expansion in the public investments as well as related investments aimed at stabilizing the economy in general. This paves the way for a buoyant electrical construction materials industry. With our strong brand image, high quality standards, long history of servicing different market for over 96 years and our strategic alliances with industry leaders like Anchor and Viko; we are well-positioned to cater to a fast growing and potential market in the coming years. The launch is also all set to benefit the neighboring economies alike, as we also plan to launch in Kenya and Uganda within this year.”

Panasonic and Anchor, India entered into a joint venture in 2007 where products such as home appliances, lighting, home automation, interior design solutions and security systems would be made available. Moving on in 2013, Panasonic also acquired major stake in leading Turkish Electrical manufacturer Viko. Viko produces electrical wiring accessories including switches, sockets, and protection devices such as circuit breakers.

Khalid .M.Salim, Co-Owner, United Traders LLC (Clock Tower Tanzania) said, “Positioned at the brink of a major shift in lifestyle trends, the construction and residential industry in Tanzania is all set to transform in the coming years and we would like to capitalize on this opportunity. Our ongoing partnership with Panasonic has been in line with the philosophy of providing innovative and high performance products that satisfy the modern day needs of the customers. With the strong line-up of quality and world-class products, we are very confident that we are well positioned to augur well for the market.”

The growing demand for high quality products in African markets are important to Panasonic’s global sales, and the company is confident that its new range of eco-friendly products and solutions will help drive sales across the region.

Ranked no 2 globally for wiring accessories, these initiatives and expansion plans are in line with Panasonic’s vision of attaining the no 1 position in the coming years. Panasonic’s future in Africa is to be known as the most preferred customer centric brand. The company believes in creating and developing products for customers, and towards contributing to the well-being of the society which is of paramount importance. Panasonic aims to add value by providing “A Better Life, A Better World”.

About Panasonic Marketing Middle East and Africa FZE (PMMAF)

Effective January 1, 2013, Panasonic Marketing Middle East FZE (PMM) has been renamed as ‘Panasonic Marketing Middle East and Africa FZE’ (PMMAF). As the regional Headquarters, all functions related to Sales and Marketing, Supply chain and Customer service solutions, and Advertising functions under the brand name Panasonic is handled by PMMAF. The vision at PMMAF is to be the No 1 Customer-centric Company and No 1 Customer-preferred brand in the Middle East and Africa region.