from ARNOLD MULENGA in Lusaka, Zambia
Zambia Bureau
LUSAKA, (CAJ News) – ZAMBIA is seeking increased investment by Japanese auto firm, Toyota, as the motoring company diversifies its operations.
President Hakainde Hichilema met executives of the company in Nagoya City as he began his four-day visit in Japan on Tuesday.
During the visit, the president held discussions with Toyota’s leadership, led by Group President and Chief Executive Officer, Ichiro Kashitani.
“As the world’s largest automobile manufacturer, producing approximately 10 million vehicles annually, Toyota’s interest in expanding its investment in Zambia is a significant development,” said Clayton Hamasaka, presidential spokesman.
He noted Toyota Tsusho was exploring opportunities beyond the automotive sector, with plans to diversify into energy and pharmaceuticals.
The president is quoted as encouraging the corporation to capitalise on Zambia’s favourable investment climate, abundant natural resources and mineral wealth by investing in value-addition ventures that support their manufacturing supply chain.
Hichilema urged Toyota to establish a parts manufacturing plant in Zambia that could integrate with Toyota’s manufacturing operations in South Africa.
The president also called on Toyota to expedite the resumption of feasibility studies for the proposed photovoltaic (PV) solar power station in Zambia.
“He emphasised the government’s commitment to energy security through diversification away from hydroelectric power,” Hamasaka said.
– CAJ News