However, Nu-World's exports provide the group with hard currency income and shareholders with a rand hedge element to their investment. Management says much of the group's growth is likely to come from exports. Nu-World exports pressing irons, jug kettles, hot plates, food processors, toasters, electric frying pans, wiring, industrial switches and heaters. The UK and European community are the main markets for Nu-World's domestic appliances. One of the group's first goals was to become a dominant player in the southern Africa small electrical appliance market.
African exports continue to grow rapidly.
But penetrating the African market has its difficulties. The high import duties and surcharges in many African countries has led to the emergence of large grey markets, making it difficult to compete on price with some unscrupulous traders. Once the goods have been delivered payment still has to be received. Nu-World is developing US and Russian markets that are growing export destinations and has established markets in Australasia. This board's flamboyant members are the IT-related retail and service groups, with Didata, PQ Holdings and Datatec featuring strongly among them.