BookTitleToyota Tsusho 70-Year History

Summary

Toyota Tsusho 70-Year History

Establishment ceremony for Toyota East AfricaLtd. (March 1999)6 Business Development in AfricaIn December 1994, the Johannesburg office in South Africa became theJohannesburg Branch. In February 1995, Toyota Tsusho began exporting carsproduced by Toyota South Africa Motors (Pty) Ltd. throughout Africa. In thefiscal year ended March 1999, sales of approximately 3,000 units a year had beenachieved.Toyota Tsusho’s first corporate investment came in 1991 when the companyestablished Toyota de Angola Sarl (TDA) as a 50/50 joint venture with Londonbasedconglomerate Lonrho. During the civil war in Angola, TDA continued tooperate and was responsible for the sales and servicing of Toyota vehicles for thegovernment and oil companies. In 1997, Toyota Tsusho acquired a 25% stakein Toyota Zambia Ltd. and participated in the company’s management. In 1998,Toyota Tsusho purchased a 15% stake in Toyota Zimbabwe (Pvt) Ltd. In 1999,Toyota Tsusho established Toyota East Africa Ltd. (TEAL), a regional Toyotaagency in Kenya and Uganda, as a 50/50 joint venture with Lonrho.By the late 1990s, Toyota Tsusho’s African business was expanding, grantingthe company a foundation for future enterprises on the continent.116