Toyota’s R10 billion investment shows confidence in SA: Ramaphosa
4 billion investment in its Durban manufacturing plant is a strong vote of confidence in the country’s manufacturing sector, despite growing global competition for investment.
Ramaphosa says the new investment will create jobs and reinforce the country’s position as a key automotive manufacturing hub.
The investment comes after years of disruption at Toyota’s Prospecton plant, including the COVID-19 pandemic, the July 2021 unrest, and the devastating 2022 floods that submerged the facility and caused billions of rands in damage.
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