TECNO Plans To Build Assembly Factory In Nigeria

By April 10, 2018 Investment News

The Vice President, Transsion Holdings, Andy Yan, has expressed optimism of Tecno establishing a phone manufacturing plant in Nigeria before long, describing Nigeria’s mobile phone market as the biggest in Africa.

Yan disclosed this while answering questions at the Tecno’s Global Spring Launch that unveiled Camon X and Camon X Pro smartphones at Eko Hotel and Suites, Lagos.

He said that Nigeria is the biggest market in Africa and one of the most important markets for Transsion Holdings.

He noted that Transsion Holdings is planning on setting up assembly factories across African countries of which Nigeria and Egypt are being considered.

In his words, “today we have already had several assembling factories outside of China.

“In Africa we are planning to set up assembly factories in countries like Egypt and may be Nigeria.

“But we are considering the whole resources because you know we need some support from the government and local customers.”

Yan explained that Transsion Holdings is seriously considering making Lagos an industry hub due to its market size but decries the challenges foreign investors face in doing business in Nigeria.

He noted unstable government policies and fluctuations in forex market as some of the challenges hobbling investment in the country.

“The most important thing for foreign investor is the stability of government policy, but the challenges we are facing is sometimes when we make decision to invest in whatever project, next thing is that there will be a change in policy and thereby interrupting us.

“And another major challenge we encounter is forex fluctuation.” Yan stated.

He thereby calls on more stable environment for investors adding that Nigeria with its market size has provided a huge market for the organization.

“Investors, most importantly, must have a stable environment and policies to do businesses.

“Where there is no continuity as regards policies and business relationship, businesses will be affected.

Source: Independent