Samsung aims for $10 billion Africa revenue by 2015

Samsung's revenue from Africa currently stands at 2 billion US dollars, or less than 5 percent of the global total, Chabala Kaunda, Samsung's Zambia country manager, told Reuters on the sidelines of a volunteer drive by company employees in Kafu, about 45 km south of the capital Lusaka.The South Korean global electronics power aims to lift that contribution to around 8 or 9 percent by 2015, he said.

"The target I can give you is that by 2015 we intend the African market to provide us with revenues of 10 billion United States dollars, which if you look at the current, ehh... the current market, the 10 billion dollars is the current size of the Chinese market today," Kaunda said.

Buoyed by a decade of relative political stability and annual growth of 7 percent or more in many sub-Saharan economies, the continent of about 1 billion people is increasingly drawing attention from major multi-nationals.

Samsung is also considering opening factories in Africa, although it has yet to make any decision, Kaunda said.

Samsung, the world's biggest maker of memory chips and No. 2 maker of mobile phones, has been on an aggressive growth push in Africa, more than doubling its presence on the continent since 2010.

The South Korean company currently operates in 42 African countries, compared with 15 at the start of last

year, Kaunda said.

"A couple of things have happened I think. I think a lot of the African now because of good governance, good economic conditions, good economic policies, have economies which are growing which obviously leads to a middle class and obviously with a middle class and the youth, technology is one of the and electronics is an industry which moves," he said.

Hundreds of people showed up to take advantage of the free medical camp organised by Samsung which included free consultation and medicines.