JOHANNESBURG, 22 August 2024 – CFAO South Africa is pleased to announce a new joint venture between one of its subsidiaries, Toyota Tsusho Africa, and Ogihara Thailand, to be known as Ogihara South Africa and the construction of a new component manufacturing plant located at the Dube Tradeport in Durban to supply product to Toyota South Africa. The Minister of Trade and Industry in the South African Government of National Unity, the Honourable Minister Parks Tau, presided at the launch ceremony, welcoming the strategic investment of R1.2 billion into the South African automotive industry.
The joint venture will bring substantial foreign direct investment to South Africa, create numerous employment opportunities, and further deepen the localisation of our economy in alignment with the South African Automotive Masterplan objectives. This collaboration exemplifies the commitment of both joint venture partners to localisation and underscores the possibilities for growth and development through investment in our country.
Photo ©CFAO South Africa
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