Car dealer Diwa International raises its capital by half a billion CFA

Economic governance
samedi, 08 mai 2021 10:16
Car dealer Diwa International raises its capital by half a billion CFA

 

Togolese car dealer Diwa International has increased its equity to more than CFA750 million, after raising its capital by over CFA500 million. 

According to our sources, Jonas Daou’s company issued 55,150 new shares with a nominal value of CFA10,000, fully subscribed and paid in cash. This should allow the firm which partnered a few months ago with Morris Garage (MG) to better face its growth prospects. 

The partnership between Diwa International and the British company enables the former to sell MG cars such as the RX5 - a modern city SUV. Daou’s company however also sells CHEVROLET and ISUZU cars, in addition to industrial, automotive, and marine lubrication solutions of the following brands : ENEGEN, PETRONAS, and TEXACO. 

It should be emphasized that before entering the car sales market, Jonas Daou had established Sodigaz (now Zener), a cooking gas supplier. It is with the latter that the businessman joined the Elite Lounge BRVM program, the 3rd compartment of the Regional Stock Exchange (BRVM), dedicated to SMEs/SMIs of the UEMOA.

Séna Akoda

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