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South Africa attracts 1,1 billion capital injection in automotive parts manufacturing

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South Africa attracts 1,1 billion capital injection in automotive parts manufacturing; Cabinet

South Africa’s investment appeal continues to draw catalytic
investments that affirm the government’s intent to drive economic growth and create jobs.

The South Africn Cabinet revealed this on Wednesday in a statement.

“Cabinet welcomes the launch of a R1.1-billion automotive components manufacturing facility at the Dube Trade Port Special Economic Zone in KwaZulu-Natal.

The massive investment by Toyota Tsusho Africa (Pty) Ltd and Ogihara Thailand Corporation Ltd is a vote of confidence on South Africa’s position as a formidable destination for foreign direct investment, the satatement said.

The investment, cabinet said, also underscores the progress that has been made under the stewardship of President Cyril Ramaphosa, who has championed an investment drive that has attracted more than R1.51
trillion in investor commitments since 2018.

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