Japan’s Canon Inc is studying establishing a new regional office to serve North, South and Central Africa regions.
Canon is choosing between Egypt, Morocco, South Africa, and Nigeria to open its newest African regional office in 2017 said Ayman Gad, Deputy General Manager of Silicone 21, Canon’s main Authorized Distributor in Egypt, told Amwal Al Ghad in an interview Tuesday.
Egypt is expected to win that battle of having Canon’s regional hub for many reasons, notably its unique geographical location, Gad added.
Moreover, the parent company in Japan is looking forward to existing in countries that make a good environment for investment, the Egyptian official added.
Despite being one of the most iconic brands in the world, Canon does not enjoy large market share in Egypt. That is why Canon is planning to control a market share ranging between 30 and 35 percent by the end of 2018.
Gad further stated that the devaluation of the Egyptian pound against US dollar would undoubtedly result in an increase of imported products, hence all companies have no choice but raising the prices of their products in order to stay stable and retain the current margin profits.