German car maker BMW announced on July 6, that it would use its South African unit as a base to expand across the sub-Saharan African region. “BMW South Africa will take over the car and bikes distribution and marketing duties from the group in sub-Saharan Africa,” said BMW South Africa’s CEO, Tim Abbott.

“We will first concentrate on Nigeria, Senegal, Cote d’Ivoire, Togo, Ghana, Kenya and Angola,” he said.

Abott also said sub-Saharan Africa holds multiple long-term growth opportunities. “We understand that the pace of change is going to be slow in the beginning, but our feeling is that 10 years from now, that pace is going to start accelerating. Therefore, the key is to invest now for the long term,” said Dumisani Radebe, BMW SA’s group director for the sub-Saharan region while indicating that all conditions are set for an economic boom in the region.

He added that the company relies on its financial services division to conquer Africa.  “I believe more people will buy cars if they have access to vehicle finance. Our financial services division will be playing a key role to ensure we tap into the market gaps that currently exist in the region,” said Radebe.