Eaton Says Africa’s Development Megatrends Motivate Investors

Eaton, a leading global power management company, has identified Africa’s ‘high-growth market’ as part of motivations investors are moving to the region.

The Company at its inaugural West Africa Technology Day in Lagos, Nigeria, recently, said it is uniquely positioned to provide safe, reliable, efficient and sustainable power management solutions for the global customers, citing African market as part of its primary targets.

At the ‘Tech Day’ 2015, Eaton showcased its solutions spanning five industry segments: Data Centre and IT, Oil and Gas, Electrical Utilities, Mining, Solar and Wind; identifiable in Africa as opportunities fuelled by investment in infrastructure and energy industries.  

In a presentation, Shane Kilfoil Eaton’s Managing Director Africa, Electrical Sector, said that the Continent should not relent on creating investors-friendly environment, adding that, Africa is currently forms the centre of global investments.

High-Growth Markets That Will Be Influenced By Megatrends In Africa:

According to Kilfoil, with estimated 118% increase in population by 2020, Africa posses the customer hub for companies seeking to expand their operations.

Also, it is believed that Africa will record-

93%...Increase in energy demand by 2050

55%...of the population lack access to electricity

79…CAGR increase in mobile data traffic tii 2017

3.2…trillion dollars cumulative investment required for energy by 2035

217…billion dollars cumulative investment required for energy efficiency by 2035

To Kilfoil, every challenged face by Africa today is a great opportunity and motivational to investors.

“Eaton is decisive to penetrate African market with our products and services. Just like every other serious investors, there are reasons for to have strong focus on West Africa in particular. The region is expected to have 139% increase in population by 2050; 69% of the population lack access to electricity; there is a 248% projected increase in electricity consumption by 2030 and 31% projected share of renewable energy in electricity produced by 2030. These are real market opportunities, just in the power sector,” he said.

He said that the Company’s with power distribution and circuit production under the electrical business, for instance, provides solutions for the entire power system such as structural solutions and wiring devices; engineering services; control and automation; lighting and security; solutions for harsh and hazardous environments; backup power protection, among others.

Eaton, Nigeria CommunicationsWeek understand, stands on the US government acclamation to double access to power in sub-Saharan Africa, as part of decisions reached during a summit on sustainable economic growth and development in Africa held in US last year.

With 300K sq. ft. of manufacturing space located in South Africa, Morocco and Tunisia, Eaton offers a broad portfolio supplemented by “made for Africa” products and services. 900 Eaton employees and 18 distributors across the region are dedicated to the growth and transformation of Africa’s businesses.

Eaton is a power management company with 2014 sales of $22.6 billion.

It provides energy-efficient solutions that help our customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably.

Eaton has approximately 102,000 employees and sells products to customers in more than 175 countries.