Industrial powerhouse Tolaram, headquartered in Nigeria, has entered into a strategic partnership with Toyota Tsusho Corporation to jointly explore investment prospects within Africa’s consumer markets and infrastructure development sectors.
The recently inked Memorandum of Understanding (MoU) sets the stage for collaboration on ventures spanning consumer goods, infrastructure initiatives, and the establishment of a commercial gateway aimed at easing global enterprises’ access to African markets.
Both companies highlight that their combined capabilities and assets are poised to foster sustainable economic growth across the continent, while addressing critical social challenges through responsible and enduring business practices.
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Operating from its Singapore base, Tolaram has cultivated a robust footprint in Africa for nearly five decades, managing around 25 manufacturing facilities in Nigeria alone. Its diverse portfolio encompasses consumer goods manufacturing and distribution, alongside a 30% equity stake in the Lekki Deep Seaport and the Lagos Free Zone. This zone hosts multinational corporations such as Kellogg’s, Indofoods, Colgate, Arla Foods, and Diageo.
Toyota Tsusho, the newly allied firm, operates across 54 African countries under its motto “With Africa For Africa.” Its broad business interests include mobility solutions, sustainable infrastructure projects, healthcare services, and consumer product sectors.