In a recent encounter with the press, Serge Lafon, executive vice-president for Africa, India, Middle East, China, Eastern Asia and Australia of Michelin, explained the approach that the company has adopted for the African continent.
With regards to Africa, Lafon mentioned that “segments are expanding fast so even our activity will increase, also through M&A activities. In the B2B we are developing solutions ourselves. If Europe is our home, Asia is the growing market and on top of that there is a strong industry network. In Africa, which in our structure is together with the Middle East, we have a development strategy based on clusters. One will include Morocco and Algeria. That portion of Africa is expanding in terms of infrastructure and industry and we will tackle that market. IN Eastern Africa, mainly Kenya and Tanzania, we will support the infrastructural and agricultural part. The biggest challenge in Africa is political stability, which is not granted, as well as safety. Of course, business also helps stability”.
With reference to the EU new Marshall plan for Africa to generate green investment in Africa, Borrut said that Michelin will contribute on two main areas. With regards to electric vehicles, it will be in the cities because the battery does not yet ensure long distances, for which Michelin will work on developing hydrogen-based solutions.