- The deal was formalized during President William Ruto's visit to Tokyo on February 7, 2024.
Kenya and Toyota Tsusho Corporation of Japan have recently signed a significant framework agreement for collaboration in vehicle manufacturing and renewable energy development.
The deal was formalized during President William Ruto's visit to Tokyo on February 7, 2024.
The signing ceremony occurred at the Toyota Tsusho Corporation Headquarters in Japan, with President William Ruto in attendance.
Cabinet Secretaries Davis Chirchir (Energy), Kipchumba Murkomen (Transport), and Rebecca Miano (Trade) represented Kenya and signed the agreement on behalf of the government.
Under the terms of the agreement, Toyota Tsusho Corporation will establish a vehicle manufacturing company in Kenya, signalling a significant boost to the country's industrial sector.
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The company has already invested Kshs 800 million in the Kenya Thika vehicle manufacturer, demonstrating its commitment to expanding its regional presence.
President William Ruto expressed his enthusiasm for the collaboration, emphasizing its potential to enhance Kenya's industrial capabilities, strengthen the Kenya-Japan relationship, and generate employment opportunities for Kenyan citizens.
In his speech, President Ruto highlighted the need to balance imported and locally manufactured vehicles, with the ultimate goal of making locally manufactured vehicles more affordable and discouraging the purchase of used cars.
“We must have a balance between the number of imported and newly manufactured vehicles "he said.
The collaboration between Kenya and Toyota Tsusho Corporation aligns with Kenya's broader vision of promoting sustainable development and renewable energy.
The agreement also paves the way for joint efforts in renewable energy development, which will contribute to Kenya's ongoing efforts to diversify its energy sources and reduce its reliance on fossil fuels.
