R/€ = 16.83
R/$ = 14.64
Au 1285.78 $/oz
Pt 1065.00 $/oz
Nov 29, 2007
Toyota to open dealership in SowetoBack
Africa|Business|Projects|Property Development|Africa|Automotive|Property Development|Service
Automotive firm Toyota South Africa said on Thursday that it had completed negotiations with a new joint-venture company comprising the Maponya group and Barloworld Automotive for the establishment of a Toyota franchise in Soweto.
“We have long sought a franchise outlet in this important and burgeoning market,” said Toyota South Africa president and CEO Johan van Zyl.
He added that Soweto had been a long-standing “open point” in its dealer network.
“As the vehicle market has expanded in recent years the urgency to fill this point with a viable dealership has grown. Earlier this year we invited interested parties to submit applications for a dealership in Soweto,” Van Zyl said.
The Maponya group is a black business organisation with interests in food retailing, fuel retailing, and property development.
The group opened a R650-million shopping mall in Soweto with Pick ‘n Pay, Woolworths, and Edgars as anchor tenants.
Future projects include a 100 000 m2 Motor City investment.
The Maponya group is the largest independent employer in Soweto.
“This is yet another dream come true. We commend Toyota SA for taking the bold step and showing confidence in the market by awarding this opportunity in Soweto. We are also pleased to be in partnership with Barloworld Automotive and are sure that we will establish a successful business together for the benefit of Toyota customers in Soweto,” Maponya’s Richard Maponya said.
“This opportunity will again create jobs and bring investment into Soweto. More importantly, the people of Soweto will now be able to purchase vehicles and get quality after-sales service right at their doorsteps” said Maponya.
The envisaged development will be a world class fully-fledged Toyota dealership with the latest corporate identity.
“This will undoubtedly add to the changing face of Soweto”, he added.
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