BY JOSHUA MUWANGUZI
Toyota Uganda has announced a name change from Toyota to Corporation For Africa and Overseas (CFAO) as the firm seeks to introduce more innovative mobility solutions in the Uganda market.
In December 2016, Toyota Tsusho Corporation (TTC) acquired 100% public shares of CFAO which saw CFAO Group take over management of all its African Automotive distributors operating in over 53 countries.
The new name CFAO Motors Uganda therefore reflects the full range of services the company offers in addition to the exclusive distribution of new Toyota vehicles in Uganda.
“We have been known as Toyota Uganda since 2005. However, increasingly, we have felt the name does not encompass the full breadth of mobility solutions that we offer, over and above the Toyota brand.
“The rebrand to CFAO Motors Uganda allows us to align with our CFAO Group philosophy that seeks to strengthen our investment in Toyota whilst at the same time offering additional mobility solutions. More than a name change, this is also a milestone that brings us closer to our ambition: sustainable growth, value chain integration, partnership with strong brands and innovation, consolidating our position as a leading automotive brand.” Thomas Pelletier, Managing Director of CFAO Motors Uganda, said.
With a revenue of over €5.8 billion, access to 46 of the 54 countries on the continent, and nearly 21,000 employees, CFAO is a key player in mobility, healthcare, consumer goods, infrastructure and energy.
CFAO Motors is now the official distributors of brand-new Suzuki vehicles, Yamaha motorcycles, Hino Trucks, and Toyota forklifts. The firm also proposes a range of short and long-term lease and car rental solutions for businesses through the LOXEA brand and its partner Avis Fleet.
Edwin Muhumuza, the National Sales and Marketing Manager, CFAO Motors Uganda says the pick up in the commercial leasing and asset acquisition space is a low hanging fruit for market players, a trend that is likely to be supported by dropping interest rates and innovations.
CFAO Motors Uganda will continue to remain the exclusive manufacturer-authorised distributor of brand-new Toyota Vehicles and genuine parts in Uganda, as well as exclusively offering Toyota Manufacturer’s warranty.