Known for its investments on the African continent, particularly in Algeria, Tosyali Holding one of the world’s leading steel producers with plants on three different continents, is now gearing up for a major investment in the West African country of Senegal. The holding will establish Tosyali Economic Zone in Senegal. Chairman Mr Fuat Tosyali said that “What we do in Algeria excites other African countries. The chairman’s remarks came on the sidelines of the African International Conference in Yokohama, Japan, during which he said they received official invitations from other African heads of state. The investment zone in Senegal will be a new breaking point. The Tosyali Economic Zone decree has been issued. The button is now pushed.”
Mr Tosyali said they saw the first example of this in the Osmaniye Organized Industrial Zone. He said that “That is the charm we create. Small and medium-sized enterprises and entrepreneurial clusters form where Tosyali invests. When we first started investing in OOSB, there were no other steel companies in the region, but now there are more than 50 companies. Most of them provide us with products and raw materials, while some are exporting our products. Now, a similar situation will take place in Senegal.”
Mr Tosyali further stressed that their business model raised the investment appetite of Japanese companies as well as African countries. He continued that “When we first started our investment in Algeria, Turkish and Algerian airlines had only five flights per week to the region. Now there are more than 50 weekly flights. As in all the regions Tosyali has invested in, a large SME cluster has emerged in Algeria as well, which has led to the transformation of over 1,000 Turkish companies into de facto investors in Algeria in the last few years alone. Seeing this, the other heads of state make official invitations to us to invest in their countries. After Algeria and Senegal, I can say that we will have serious investments in steel, especially on the West African side.”
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