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Porsche’s African expansion is ‘a long-term project’

Luxury car maker Porsche recently announced it is planning to expand its presence across sub-Saharan Africa.

The company has launched an online platform where investors can apply to become Porsche importers.

“Porsche is looking for investors that are as passionate about the brand as we are, and with the local market expertise to help us deliver an unparalleled experience and unrivalled service to customers,” said Christer Ekberg, managing director of Porsche Middle East and Africa, in a statement.

Porsche currently has a presence in four countries in sub-Saharan Africa: South Africa, Nigeria, Ghana and Angola. However, South Africa remains the biggest market in the region.

“South Africa represents more than 90% of our sales in the sub-Saharan region today. In the past two years, new car deliveries in South Africa have increased by roughly 40% year on year,” Ekberg told How we made it in Africa.

According to a recent Bain & Company research report, Africa’s market for luxury goods will grow by 11% in 2013 compared to 2012.

However, Ekberg said Porsche is “realistic” about finding suitable investors and partners in Africa, acknowledging that “things will take time”.

“Our expansion plan is a long-term project that requires a lot of research and a high level of flexibility. Our future plans are not set in stone and we will carefully evaluate every step along the way,” he explained.

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