Toyota South Africa Motors decided in 2016 to provide R43m initial funding for the development of strategic skills and suppliers in the Automotive Sector in South Africa, through a lens of access, transformation and technology. As initial projects, the fund has identified multiple access initiatives aimed at addressing critical gaps in skills, transformation and the pending 4th Industrial Revolution. In addition, applications for funding are open to all black- owned manufacturing and services businesses related to the Automotive Sector.

Suben Moodley Senior Vice President: Corporate Services; Trustee of the Toyota Empowerment Trust.


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Funding applications by black-owned businesses

How do I qualify for funding?

Application Requirements

Applicants need to provide the following information to the Trust in the form of a business plan or information memorandum.

  • Executive summary

  • Overview of funding request and key funding uses

  • Overview of the market the business is trying to access

  • Overview of the industry dynamics and current competitors, with competitive advantages listed

  • Overview of the current team including a team organogram and team cost structure

  • Current ownership structure and nationality

  • Overview of products, services and businesses processes

  • Key contracts, client and supplier relationships, including the current sales pipeline, lease agreements, loan agreements, supplier agreements, etc.

  • 3-year historic financials and 8-year financial forecasts

  • Balance sheet and current cash flow statement

  • Risk assessment


In addition, the Trust would require the following

  • CVs of all senior staff members

  • Copies of compliance documents (B-BBEE certificates or affidavits, ISO Certification, tax clearance certificates)

  • Management accounts for the year to date and audited / reviewed financial statements for the past 3 years

  • Company formation documents, certified ID copies of all directors and shareholders and proof of address documentation

Time Line of application

It will take 8 – 16 weeks to process an application for funding from start to finish as the trust applies a detailed investment due diligence process (this is provided the applicant has supplied all the required information). The investment timing is also dependent upon the number of applications currently being processes by the deal making team. The application process typically follows 3 phases: high level review, in-depth assessment and then closing.


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