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Toyota says job creation, empowerment trust activities on track

Toyota's plant in Durban

Toyota's plant in Durban

14th July 2016

By: Irma Venter

Creamer Media Senior Deputy Editor

  

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 Toyota South Africa Motors (TSAM) president and CEO Andrew Kirby says the group is on track to create 2 000 new jobs with its R6.1-billion investment to built the new Fortuner and Hilux models at its Durban plant.
 
He says the jobs will be created throughout TSAM’s supplier value-chain, with a further 500 jobs created within TSAM.

Around 2 700 vehicle parts will be procured locally.
 
Kirby adds that a R42-million empowerment trust has been created in aid of more than 85% black beneficiaries. These include black-owned enterprises, suppliers and socioeconomic beneficiaries.

“The trust can also be used as a tool for skills development where employees and unemployed people may benefit.”
 
Kirby says funds in the form of grants, loans or assets are injected into the trust for the benefit of the beneficiaries.

He says he wants TSAM to be an enabler in the country’s development, through organic transformation.
 
Department of Trade and Industry (DTI) automotives director Tinyiko Mafuwane says the investment and trust fund are in line with the DTI’s vision of economic transformation, through the inclusion of previously disadvantaged groups in the mainstream economy.
 
She believes TSAM is moving in the right direction regarding empowerment, and that this should set an example for other vehicle manufacturers.


 

Edited by Creamer Media Reporter

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