The Bulb World, a partly Citizen Entrepreneurial Development Agency (CEDA) funded project has agreed terms with Africa’s biggest retailer, Shoprite, to sell its Light Emitting Diode (LED) throughout its stores across the continent.
Formed barely five years ago, The Bulb World has quickly established itself in the local market, expanded to neighbouring South Africa, and now increasing its footprint across the continent.
CEDA injected P4 million in 2017 to help the company set-up in the Selebi Phikwe Economic Diversification Unit (SPEDU) region. The company has since added over 70 jobs in Phikwe, and the number could rise exponentially in the next few years in wake of acquiring access to continental market, according to the company executives.
The Bulb World has emerged as the poster boy company supported by state-funding institution, managing to penetrate the market in its early days. The company manufacture LED lighting bulbs for both commercial and residential use.
In 2020 the company announced that it is spreading its wings and is now trading in South Africa in the Special Economic Zone (SEZ) of North West province under the auspices of North West Development Corporation (NWDC).
The company Chief Executive Officer (CEO) and founder, Ketshephaone Jacob has said the objective has always been to eventually penetrate the African market. The company ambition is now on motion following new developments in South Africa.
In June, Shoprite approved The Bulb World’s request to sell its products through its stores across the continent. The agreement will give the company leverage to supply over 2 300 Shoprites stores across the continent reaching markets such Nigeria, Ghana and Zambia among others.
“We have already kick-started sourcing our debt funding to be able to penetrate Africa,” said Jacob.
The Bulb World operates from Selibe Phikwe, it currently employs over 70 young people, 80 % of which are Phikwe youth. The company plans to add 100 jobs this year alone as it forges ahead with its regional and continental expansion plans.
The Bulb World has been registered as a company in South Africa; the company will start producing lights from Mogwasa after striking a special economic zones deal with North West Development Corporation in North West Province South Africa.
“Over the next 10 years we are looking to create over 5,000 jobs in Africa. Through our expansion into all of Africa we will be able to create employment for various individuals in different sectors namely; manufacturing, distribution electronics and retail,” Jacob told this publication earlier this year.
Jacob said if all goes well, the plan is to have taken over Africa or rather penetrated, and have prevalent presence in the African market.
“We are gunning to have at least 30 percent market share by then. According to a 2016 Market Survey, the total valuation of sales for LED Lighting was 57 billion, a portion of which we plan to have taken over by then,” he said.
While the company has set its eyes on Africa, Jacob said, the company has not fully exploited its local growth, indicating that there could be strategic factories built to supply neighbouring countries of Angola and Zimbabwe.
“There is potential for further local expansion as well to other areas of Botswana if things run smoothly as anticipated. Hopefully in the long-term if our fellow Africans and all these markets receive us well we are planning to build another factory,” he said.
“We are looking to build another factory in the Chobe/Ngamiland Area that will give priority to markets in Zimbabwe and Angola,” he said.
