A Chinese firm, Tenda Technology, has invested over $1 million in Nigeria in the last year with the hope of increasing it by 50 per cent every year This was disclosed by Tenda Sell-Through Manager, Nigeria, Joseph Agema, on the sideline of the product unveiling in partnership with Cosharis Technologies in Lagos.
Agema said the Nigerian market remained very lucrative and attractive to investors, saying “Nigeria is the biggest market that Tenda has in West Africa and maybe the third biggest market that Tenda looks at in Africa as a whole. The potential for this market is huge.” He admitted that market challenges such as counterfeit products, grey imports, and fluctuating exchange rates serve as limitations for the market.
In his opening remarks, Director, Europe, Middle East and Africa, Shezhen Tenda Technology Company Ltd, Chan Wills, acknowledged Coscharis’ role in the partnership’s success.
“I want to show my sincere appreciation to our distributor partners. Without your support, we cannot be successful in this country, especially the trust and support from the Managing Director and CEO of Coscharis Technologies, Dr Sunday Mukoro,” he said. On his part, Mukoro noted the importance of the alliance.
“Coscharis is the only distributor that will not compete with you in the marketplace… If we are aware that you are bidding in a particular account, we will go there and speak for you and make sure that you win the transaction,” he assured partners.
Resident Director and Country Manager for Tenda Nigeria, Yao Coy, confirmed that over 200,000 Tenda devices have been sold in the last two years with “almost zero return rate.” He stated, “We offered our distributor a two-year warranty period.”
