Toyota Tsusho Group establishes new investment company for MaaS/CASE in Africa
- Accelerating next mobility strategy in Africa -
Toyota Tsusho Corporation ("Toyota Tsusho") - together with its subsidiary CFAO S.A.S. ("CFAO") - has decided to establish an investment company Mobility 54 S.A.S. ("Mobility 54") dedicated to the investment and financing in mobility related startups in order to accelerate its next mobility strategy in Africa.
Various needs and demands of mobility services in Africa have been drastically rising due to the increase of population and local enterprises leading to the expansion of rapid urbanization.
However, a large part of Africa in the present environment has been facing fundamental social challenges including a lack of transport infrastructure, quality service providers, and transparent and convenient services.
２．Purpose of establishing the company
Mobility 54 will invest in startups with innovative mobility services and technology in Africa and support their business expansion. In addition, Mobility 54 will be a “value-up” investment company leveraging the Toyota Tsusho/ CFAO group’s Pan-Africa automotive network leading to generating synergies among the startups and Toyota Tsusho/CFAO group’s businesses in Africa.
Toyota Tsusho Group is to pursue the MaaS/CASE business in Africa through Mobility 54 based upon its mid-term strategy of “Africa” and “Next Mobility”, so as to contribute to solving the social challenges in mobility industries in Africa.
|Mobility 54 S.A.S. (tentative)|
|Takeshi Watanabe, Chief Executive Officer|
|１million euro (at incorporation)|
|September, 2019 (tentative)|
|Investment and financing with start-up companies
Generation of synergies with Toyota Tsusho/CFAO group
The information in this release is current as of the date of announcement.
Please note that information may change after the date of announcement. Thank you in advance for your understanding.