The R6.1 billion investment announced by Toyota is on track to create 2,000 jobs, Toyota South Africa Chief Executive Officer Andrew Kirby said.
The Japanese carmaker recently announced its R6.1 billion investment in South Africa. In May, President Jacob Zuma launched the new generation locally produced Toyota Hilux and Fortuner models at the carmaker’s Prospecton plant in Durban.
Kirby said the 2,000 jobs will be created through the company’s supplier value chain, and a further 500 jobs will be created within Toyota South Africa Motors, as 2,700 vehicle parts will be procured locally.
“A further R42 million empowerment trust has been set aside. More than 85% beneficiaries are black. These include black-owned enterprises, suppliers and socio-economic beneficiaries. The trust can also be used as a tool for skills development, where employees and unemployed people may benefit,” said Kirby.
The Department of Trade and Industry (dti) and Brand South Africa on Thursday organised a tour for media at the carmaker’s Durban plant. The purpose of the site tour was to profile South Africa’s competitive business environment ahead of the International AIDS conference taking place next week in Durban.
Director of Automotives at the dti, Tinyiko Mafuwane, said the investment and trust fund were in line with the department’s vision of economic transformation, with the inclusion of previously disadvantaged groups in the mainstream economy.
Mafuwane said Toyota SA was moving in the right direction regarding empowerment through implementing a number of initiatives that will also grow the sector, and this should set an example for other original equipment manufacturers (OEMs)
Source: Name News Network