Tolaram Pte. Ltd. has signed a Memorandum of Understanding (MoU) with Toyota Tsusho Corporation to explore a strategic partnership aimed at accelerating growth across Africa’s consumer and infrastructure sectors.
The agreement, announced in Singapore, unites two major players with decades of investment and impact across the continent. Tolaram, with nearly fifty years of operations in Africa, is known for its deep footprint in manufacturing, consumer goods distribution, and large-scale infrastructure projects such as Lekki Port and the Lagos Free Zone in Nigeria.
Toyota Tsusho, a subsidiary of the Toyota Group, operates in 54 African countries under its guiding philosophy, “With Africa, For Africa.” The company brings expertise in mobility, healthcare, consumer products, and green infrastructure, and has been instrumental in driving sustainable industrial development across emerging markets.
Under the new partnership framework, both companies will explore joint ventures in consumer products, infrastructure development, and new business platforms that could serve as gateways for global enterprises seeking to invest in Africa. The collaboration aims to unlock new opportunities, strengthen regional supply chains, and address key social challenges through responsible, long-term business initiatives.
Haresh Aswani, Chief Executive of Tolaram, said the partnership represents a strategic step toward advancing Africa’s industrial and economic capacity. “By combining Tolaram’s deep local knowledge with Toyota Tsusho’s global expertise, we are creating a strong foundation for sustainable growth and innovation that benefits millions across the continent,” he said.
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Toyota Tsusho President and CEO, Toshimitsu Imai, emphasized that the collaboration aligns with the company’s mission of “passing on a better Earth to the children of the future.” He added that the joint effort will contribute not only to economic expansion but also to a sustainable and inclusive future for Africa.
Founded in 1948, Tolaram has grown from a single retail outlet into a diversified global enterprise spanning consumer goods, fintech, infrastructure, and industrial sectors across Africa, Asia, and Europe. The company is one of Africa’s largest producers and distributors of food, beverages, personal, and home care products, working in partnership with global brands such as Colgate-Palmolive, Arla, Indofood, Kellanova, and Diageo.
Toyota Tsusho Group, which operates in over 130 countries with approximately 23,000 employees across Africa, remains committed to advancing mobility, healthcare, consumer solutions, and green infrastructure. For more than 170 years, the Group has played a central role in Africa’s economic transformation, focusing on innovation, sustainability, and shared prosperity.
