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Toyota is reportedly exploring opportunities beyond the automotive sector in Zambia, with potential investments in energy and pharmaceuticals, as President Hakainde Hichilema urges the company to establish a vehicle parts manufacturing plant.
During a tour of Toyota Motors Corporation in Japan on Tuesday, Hichilema encouraged the company to set up a parts plant in Zambia that could integrate with its South African manufacturing operations.
The President also called on Toyota Tsusho Corporation to expedite feasibility studies for the proposed PV solar power station in Zambia, emphasizing the government’s commitment to diversifying energy sources beyond hydroelectric power.
“The New Dawn administration has introduced reforms to open the energy sector to private investment, recognizing energy as a key driver of economic growth and industrial production,” Hichilema said.
He urged Toyota to capitalise on Zambia’s favorable investment climate, abundant natural resources, and mineral wealth by investing in value-addition ventures that would support its supply chain.
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