R1.2 billion investment boost for South Africa

📆 8/23/2024 9:22 AM
📰 BusinessTechSA

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A new joint venture will be breaking ground at the Dube Tradeport in Durban, bringing a R1.2 billion investment to South Africa’s automotive industry.

Ogihara South Africa will soon break ground on a new body part manufacturing plant at the Dube Tradeport in Durban, KwaZulu-Natal, which will supply components to vehicles built by Toyota South Africa on local soil.

“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.”CFAO South Africa is the regional division of the pan-African CFAO Group, headquartered in France, itself a wholly-owned subsidiary of Toyota Tsusho Corporation in Japan.

Ogihara Thailand is a subsidiary of Ogihara Corporation in Japan and is one of Thailand’s leading automotive tools, die makers, and automotive stamping parts manufacturers. The joint venture to create Ogihara South Africa marks the company’s first expansion into the African continent.

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