The two plants should make 100,000 cars per year, each. Egypt, which already has a well-established automotive ecosystem, is a favorite candidate to host one of them.
Japanese carmaker Toyota Tsusho is planning to set up two new plants in Africa, the group's senior executive adviser Jun Karube announced on May 2.
"Toyota will establish two plants on the continent, each with a production capacity of 100,000 cars per year, in addition to its existing plants in several African countries," Karube said at a meeting in Cairo with the chairman of the Egyptian General Authority for Investment and Free Zones (GAFI), Hossam Heiba.
Karube, who was previously the chairman of the board of directors of the Toyota Tsusho Group, also said that Egypt is among the favorites to host one of the plants. He noted that the North African country already hosts several automotive suppliers, has skilled workers, and a business climate that is good for investment.
The plants’ announcement comes on the sidelines of the tour of the Japanese Prime Minister, Fumio Kishida, on the continent. The Japanese leader has already visited Egypt and Ghana and should head next to Kenya and Mozambique.
In Africa, Toyota already has vehicle assembly plants in South Africa, Kenya, and Ghana.
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
• BOAD releases CFA10 billion ($17.8 million) to support Boungou and Wahgnion gold mines.• Burkina F...
Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...
• Burkina Faso-based financial group, Vista Group Holding, has acquired a majority stake in Société ...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo • License award comes on stream as part of the...
• The International Monetary Fund (IMF) has authorized a $262.3 million disbursement for Ethiopia, taking total payments under Extended Credit...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boosting regional trade and investment• Part of broader...
• IFAD initiates a program worth $358.26 million to bolster dairy sector in Kenya, Rwanda, Tanzania, and Uganda • The program, called DaIMA, aims...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...