Egypt identified as one of the strongest emerging markets in Africa with a positive economic outlook
CAIRO, Egypt, MON, FEBRUARY 25 2019-theG&BJournal- Yuichi Ishizuka, President and CEO of Canon Europe Middle East and Africa (EMEA) (www.Canon-Europe.com), a global provider of imaging technologies and services, visited Egypt as part of a regional tour of Africa.
The visit reinforces Canon EMEA’s commitment to drive innovation in the region’s imaging industry, adding value to the Egyptian market and the country’s economy.
Egypt is part of Canon Central and North Africa (CCNA) (www.Canon-CNA.com), a Regional Sales Organization which was formed in 2016 as a strategic step to enhance Canon’s operations within Africa and strengthen its in-country presence. Egypt is a key market within CCNA as it represents one of the largest economies in the region with World Bank forecasting an economic growth rate between 5 and 6 per cent in 2019 and trend at around 315 Billion USD in 2020.
“There are several growth opportunities for Canon in Africa and Egypt in particular, as we see it as a gateway to the African continent. The country is on an upward trajectory and witnessing positive transformations that will establish it as a regional business hub. I am honoured to come and see this progress myself as well as asses market dynamics, and better understand our customers’ needs. I would also like to appreciate the amazing job done by our locally based Canon employees in enhancing our presence in both consumer as well as business segments in Egypt” said Ishizuka.
Canon is establishing more targeted operations in Egypt through CCNA to further support the government and businesses; adopt the latest imaging technologies to achieve their growth and development targets in a fast-evolving, increasingly digital world.
Earlier this year, Canon launched its full frame, mirrorless range of cameras in Egypt targeting professional photographers and filmmakers. Canon launched EOS R, in Egypt as part of its continued investment in the region. The EOS R System allows users to shoot and film in extremely low light conditions with accurate focusing.
Africa is a fast-developing market for Canon, especially within the next decade as governments across the region and Egypt in particular, seek to adopt digitisation as a policy for seamless and efficient operations, and imaging technologies are an integral part of this transformation. Canon recently attended the Africa 2018 forum in Sharm El Sheikh to discuss trade and investment opportunities with Egyptian stakeholders in the private and public sectors to further support economic and social development ambitions.
Furthermore, with the rise of the local tech and start-up scenes driven by the entrepreneurial endeavours of youth that make up the majority of the population, imaging innovations and technologies are crucial to the growth of these start-ups and small and medium enterprises (SMEs), which encourage economic diversification and support the development of emerging markets.
During his visit, Ishizuka visited the campus of The German University in Cairo (GUC) to tour the newly launched Canon Printing Park located at the university in collaboration with Integrated Office Systems (IOS), Canon’s local partner and authorised distributor.
The Printing Park houses a mixed variety of Canon printers for different purposes and caters to GUC students to get them acquainted with digital imaging innovations which will become part of their professional careers. The Printing Park will also service external companies such as marketing agencies, interior decorators and others that rely on imaging and print for their business.
Canon aims to continue expanding its reach for all the product ranges in the market, support its local partners gain a larger market share in both the business and consumer segments and become the imaging market leader in Egypt. -APO Group.