500 Company’s Expansion Into Africa: Chinese Investor Deal With Gov Sanwo-Olu

Lagos State Governor Mr. Babajide Sanwo-Olu on Sunday engaged the leadership of Gree Electrical Appliances on the possibility of siting a plant in Lagos to support the Fortune 500 company’s expansion into Africa.

Lagos State Governor, Mr. Babajide Sanwo-Olu being conducted round Gree Electrical Appliances Inc of Zhuhai facility by the company’s executives Mr. Jerry Zeng, Overseas Sales Company Assistant General Manager, Africa, Mr. Xie Dong Bo, President Assistant.

The Governor, while on a tour of the company’s expansive facility in Zhuhai, China, told the company’s leadership, including Mr. Xie Dong Bo, President Assistant who represented Madam Dong Mingzhu, the company’s President and Chairperson, at the facility inspection, said “Lagos State is open to socially responsible and viable companies like Gree Electric Appliances”.

“As you know, Lagos is the largest city in Africa, with a population of over 22 million people. The State’s economy is the 7th largest on the continent of Africa. The State is central for easy distribution of products and a fertile ground for recruiting highly skilled workforce that will help further the innovation for which Gree Electric Appliance is globally reputed,” Sanwo-Olu told his hosts.

Allaying the fear of the company’s management about the challenges of doing business in Lagos, Mr. Sanwo-Olu told the potential investors in the State’s economy that “every region of the world has its own peculiar challenge(s). Even here in China, you have your own issues, but your challenges may not be what our challenges are in Lagos”.

“However, the good news is that Lagos State is committed to innovation and excellence in everything we do. We have our eyes on the ball and the Government I lead is leaving no stone unturned in ensuring that business processes are simplified enough to support entrepreneurial efforts to grow and succeed. We are the major driver of Nigeria’s 15 places improvement on the World Ease of Doing Business Index, and we will continue to drive the process for continual ascension of Nigeria on the Index,” he said.

Speaking through its President Assistant, Mr. Xie Dong Bo, who has managed the company’s international subsidiaries in Brazil and Pakistan, the company expressed gratitude to the government and people of Lagos State for the invitation to establish an international subsidiary in the State.

He said: “Gree Electric Appliances is grateful for the invitation and the opportunity to expand into Lagos. With this invitation, we see an opportunity to increase our share of the air-conditioning market to the region of 35% and our annual production capacity of residential air-conditioners (RAC) and central air-conditioners (CAC) from more than 60 million and 5.5 million sets respectively.”

Mr. Jerry Zeng, Overseas Sales Company Assistant General Manager, Africa, Mr. Xie Dong Bo, President Assistant, Gree Electrical Appliances Inc of Zhuhai, Mr. Babajide Sanwo-Olu, Lagos State Governor and Ms. Chief Diana of Choice International, Guangzhou, China while the Governor was on a tour of Gree Electrical Appliances Inc facility yesterday.

Bo added: “In addition to being in Brazil and Pakistan, we want to be manufacturing and packaging our products in Lagos. So, this invitation aligns with our expansion goal and the company will seriously deliberate on this because Nigeria a big market for our products.”