Toyota Tsusho Corporation (“Toyota Tsusho”) and its group company CFAO SAS (“CFAO”) decided to invest in Moja Ride SARL (“Moja Ride”), which operates a digital transportation platform in Côte d’Ivoire. The investment will be engaged by Mobility 54 Investment SAS (“Mobility54”) – a corporate venture capital subsidiary of Toyota Tsusho group, through the underwriting of convertible notes investment*.
The investment is due to the awarding of the Mobility54 Special Prize to Moja Ride at the Startups in AFRICA – the grand final of NINJA business plan competition, hosted by Nikkei Inc. (“Nikkei”) and Japan International Cooperation Agency (“JICA”) on February 26, 2021. The reasons for the company’s selection for the special award and for the investment are in the hope of enhancing the quality of public transport services in West Africa, by supporting the deployment of services by Moja Ride, which target public transport operators.