Striving to solve Africa's social issues
We are contributing to industrial development and job creation for young people by operating a social venture fund and opening our automobile distributor's human resources development organization to the public.
In recent years, Africa has staged remarkable economic growth as aresult of natural resources development and soaring resource prices.The continent is also achieving progress on various social fronts,including lower infant mortality and higher school attendance. Africaboasts a population of over 1 billion people, and by 2050 its laborforce is expected to become the largest in the world, exceeding thosein China and India. A pressing issue facing the continent is future job creation for young Africans aged 15-24, a fast-growing age group. Solving this issue willrequire that the industrial development of countries throughoutAfrica be conducted without delay.
From the 2000s, Japan and Europe have acted as strategic partnersto African nations. In recent years, however, the support structurehas changed significantly from government-led aid to public-privatepartnerships aiming In 2013, at the 5th Tokyo InternationalConference on African Development (TICAD V) held in Yokohama,participants adopted the Yokohama Declaration 2013 recognizingthe private sector's role as a driving force for growth and theimportance of respecting African ownership.
Establishment of a social venture fund
In February 2014, Toyota Tsusho Corporation established the socialcontribution-type venture fund Toyota Tsusho CSV Africa Pte. Ltd. inMauritius.
Over the years, we have actively made social contributions to Africathrough the free provision of social infrastructure, industrial and humanresources development services, and pharmaceuticals, as well asthrough volunteer work by our group company employees. The newfund aims to foster businesses that can directly contribute to solvingsocial issues in Africa, such as job creation for local communities andimprovement of worker incomes, the enhancement of the living andwelfare environments, and the acquisition of foreign currency. The fundis creating a bridge between Africa and Japan by collecting a wide rangeof new business ideas from outside the company and offering venturesupport in the agricultural, environmental, medical and other fields.
The fund holds a monthly investment meeting to discuss and selectcandidates for investment based on field research in Kenya, Rwanda,Tanzania, Ethiopia and other countries. The fund made its first selectionsin the summer of 2014 and plans to invest in a total of 10-15 venturesover the next three years. In addition to capital, support for the venturesby using our company's global network is also being considered in theform of helping them strengthen their structures and develop humanresources, as well as in logistics and sales. We will monitor the new businessesregularly and provide Japanese know-how and technology to contributeto the self-sustained development of Africa through the ventures.
Youth job creation
Fostering human resources for Africa's tomorrow
One of the goals of Kenya's long-term strategic plan, VISION 2030, ishuman resources development. The nation is aiming to develop a globalworkforce by enhancing the international competitiveness of its workers.
To foster technicians and engineers, the Kenyan government operatestechnical colleges to provide work training. There remains a gap,however, between the schools' curriculums and the technological progressin the industrial workplace.
To help solve this issue, Toyota Tsusho subsidiary Toyota KenyaCo., Ltd. has refurbished its internal human resources training center andreopened it as the Toyota Kenya Academy. An opening ceremony for theacademy was held on July 16, 2014 and with attendance of KenyanPresident Uhuru Kenyatta, Toyota Tsusho Chairman of the Board JunzoShimizu, and other dignitaries.
By strengthening our educational system to meet a diverse range ofneeds, we will continually support the human resources development ofworkers striving for the future of Kenya and all of Africa.
Features of Toyota Kenya Academy
- 1.Serves as the engineer training center for the eastern and southern automobile distributors of Toyota Motor Corporation (continued function)
- 2.Collaborates with Japan International Cooperation Agency (JICA) and Kenyan universities and government organizations to provide business management courses for the public
- 3.Plans to offer courses in non-automotive fields, such as technical training for construction and agricultural machinery engineers, which have not been available in the past Classes are also planned for the general public.
- 4.Plans to offer entrepreneur support courses in collaboration with Kenyan
universities and government organizations