TTC/CFAO established a new investment company to accelerate MaaS initiatives in Africa.

October 22, 2019

Toyota Tsusho Corporation (“TTC”) – together with its subsidiary CFAO SAS (“CFAO”) – has decided to establish an investment company Mobility 54 Investment SAS (“Mobility 54”) dedicated to accelerate its next mobility strategy in Africa.

1. Background

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 current environment has been facing fundamental social challenges including a lack of transport infrastructure, quality service providers, and transparent and convenient services.

2. Purpose of Investment

Mobility 54 will invest in partners 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 TTC/CFAO group’s Pan-Africa automotive network leading to generating synergies among the partners and TTC/CFAO group’s businesses in Africa.

TTC Group is to pursue the MaaS/CASE initiatives 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.

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