|
|
|
| . |
|
|
Mitsubishi Corporation Southern Africa has become a force to be reckoned within the sub-Saharan region. Through innovative investment and commitment to the region, this Japanese trading house is rapidly developing its activities in an area with huge growth possibilities. The complex world of international trading houses is changing rapidly, and Japan's own globally active giants are no exception. The trend today leans toward the transformation of a traditional sogo-shosha (large general trading company) into an investment enterprise seeking global strategic opportunities. This change from a conventional model to a company-driven one to create value has pushed the South Africa-based subsidiary into new territories. "We are constantly evolving and changing with the times. Now, we are fully focused on expanding our business into innovative and exciting areas," says Mitsubishi Southern Africa CEO Kazuo Korenaga. "Recently we invested heavily in Mozal, an aluminum smelter in the neighboring country of Mozambique, with a 25 percent equity interest in the corporation. It stands as a model for economic development and revitalization in Africa. It is also the first investment in an aluminum refining business in the region by a Japanese company." Currently MOZAL produces 506,000 metric tons of primary aluminum, which accounts for approximately 2 percent of aluminum consumption globally. Towards the end of 2002, the second phase of the project will aim to double this annual capacity. It is estimated that the smelter will reach its goal of one million tons by 2003. Aside from its activities in the metals and minerals industries, Mitsubishi has also been successful in the agribusiness, wines, and machinery equipment sectors of South Africa and its neighbors. "We are constantly on the lookout for new venture opportunities," comments Korenaga. "We are truly dedicated to this region and our investments reflect our genuine interest and commitment to Southern Africa."
|
 |
