VENTURES AFRICA – Global conglomerate company Hinduja Group is planning to increase its business stakes in Africa in areas ranging from transport, infrastructure and coal while seeking partnership with governments of various African countries for its new business in the region.
The company’s Co-Chairman Gopichand Hinduja told Press Trust of India, “We at Hinduja group are planning significant expansion plans in African countries. We are trying to create our business hubs in Kenya and in East Africa, in addition to our existing hubs in South Africa, Tanzania and Nigeria in the region.”
“In Africa, there is so much to be done, but for now we are focusing on our existing strength in various business verticals and therefore focusing on sectors like transport, auto, lubricants, infrastructure and coal,” Gopichand Hinduja said.
He added that Hinduja group will focus on partnering the governments of various African countries and look at PPP model of business there.
Hinduja group is a UK-based conglomerate ran by billionaire Hinduja brothers — Prakash, Srichand, Gopichand and Ashok.
Gopichand and Prakash Hinduja were participants at the just concluded World Economic Forum (WEF) Annual Meeting in Davos where they met government heads and top officials of various African countries.
Hinduja Group’s Europe Chairman, Prakash Hinduja, confirmed that they met government heads of South Africa, Kenya and Nigeria, among others during the Davos meeting and discussed potential business opportunities in those countries.
“We are keen to work on public transport systems in African countries through Ashok Leyland and we are in touch with the governments there in this regard.”
“We are looking at entire African region and we have met top government officials from Tanzania, Kenya, South Africa, Ghana, Uganda, Ethiopia, Rwanda and Gabon here in this regard,” Prakash Hinduja said.
Aside Africa, the group is planning to expand across Latin America and India, where it has previously announced investments totaling $30 billion over a five year period.