Before Shell, Rolex, and BNP Paribas withdrew from South Africa, a global tech giant also quietly exited the country.
After years of fanfare about its activities in South Africa, including a huge marketing campaign with Springbok captain Siya Kolisi in 2018, Panasonic has all but vanished from the local market. Panasonic relaunched its brand
Panasonic also planned to sell its beauty care products, a range of business-to-business equipment, and air conditioners in the country. These included its “You can be the light” project, which aimed to donate 10,000 solar lanterns to the Nelson Mandela Foundation for distribution to needy families. The company registration for Panasonic South Africa Ltd shows that it failed to file its annual returns and pay its CIPC fees in 2019, 2020, and 2021.
According to CIPC’s fee schedule, this means Panasonic reported more than R25 million turnover in its 2019 and 2020 financial years, and less than R1 million turnover in subsequent years.Huge Group revealed in 2021 that Panasonic closed its business communications division, dropping its PBX, SIP, and scanner product categories.Pansmart was established to import and distribute Panasonic telecommunications equipment in South Africa. Huge had acquired a stake in the company in 2019.
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