Despite government backing, Mara Phones fails in South Africa
Despite tax breaks and procurement preference from South Africa's government as well as financing by the IDC and Standard Bank, Mara Phones still couldn't maintain a sustainable business as it was eventually liquidated and the manufacturing plant and assets auctioned off during February 2022.
On 17 October 2019, Mara Group, founded by Ashish J. Thakkar, announced the availability of its Mara Phones range for purchase by consumers in South Africa. According to Mara Group, the smartphones had been (since 2018), and continued to be manufactured at a factory that Mara Group was launching on the same day in Durban, South Africa.
Ashish J. Thakkar, Founder of the Mara Group, initially announced the company's intentions to build affordable smartphones in South Africa during the inaugural South Africa Investment Conference convened by South Africa's President Cyril Ramaphosa in 2018.
"The first high specification, affordable smartphone manufactured in Africa, Mara Phones is committed to enhancing and enriching the lives of the people of Africa. Manufacturing in Africa enables job creation and also making the smartphone more affordable to all, contributing to business and development on the continent. Manufactured in Africa, ready for the global market!" reads a statement by Mara Group.
This is for premium members only.
Become a premium member and get access to the full library.