Chinese EV Firm Chery Signs Deal with Local Manufacturer, Plans to Build Assembly Line
A Kenyan autodealer, Afrigreen Automobile, is set to benefit from a US$20 million investment from Chinese EV manufacturer Chery which will be used to establish an assembly plant in [...]
Competition Authority Approves Toyota Dealer CFAO Motors KSh 1Bn Acquisition Deal
The Competition Authority of Kenya (CAK) has approved the KSh 1 billion acquisition deal between Toyota-owned CFAO Motors and Thika-based Kenya Vehicle Manufacturers (KVM) Limited, concluding that the agreement will [...]Tanzanian Conglomerate Amsons Group Makes Record $180mn Bid for Bamburi Cement
Tanzanian conglomerate Amsons Group has made a record $180mn (KShs. 23.32bn) binding offer for 100% ownership of Bamburi Cement, valuing the listed cement manufacturer at Shs. 65 per share. “We [...]
Packaging Solutions Company SKL Group to List on the NSE
Shri Krishana Overseas (SKL Group), a packaging solutions and shoe manufacturing company, has announced its intention to list by introduction on the Nairobi Securities Exchange's (NSE) Growth Enterprise Market Segment. [...]Uganda Reinstates 25% Import Duty on Electric Vehicles
Uganda has increased import duty from nil in the previous financial year to 25 per cent on fully electric vehicles, hybrid vehicles, and electric motorcycles. On the other hand, companies [...]Approved Credit to Manufacturing Sector Rises to KSh 639 Billion
The total approved credit to the manufacturing sector by both commercial banks and industrial financial institutions rose to KSh 639 billion in 2023 from KSh 528.9 billion in 2022. Demand [...]Cement Production Grows on Credit Access, Consumption Rate Slows in Q3
A steady improvement in credit to the building and construction sector contributed to a growth of cement manufacturing sub-sector in the third quarter of last year, according to the latest [...]Car General Posts Net loss of KSh 274 million on Forex Losses
Car General Kenya Plc, a listed dealer in power generation, automotive, construction and industrial engineering products in East Africa, has posted a net loss of KSh 274 million in [...]
BOC Kenya Plc Net Earnings Ups 33.9% to KSh 198.1m
BOC Kenya Plc recorded a net profit of KSh 198.1 million for the year ended 31st December 2023 compared to net earnings of KSh 147.9 million in 2022, an increase [...]Crown Paints Kenya Posts Net Loss of KSh 29mn in 2023
Crown Paints Kenya Plc, a listed paints and coats manufacturer, slid into a net loss of KSh 29 million in 2023 from a net profit of KSh 824 million in [...]East African Cables Plc Cuts Net Losses to KSh 301.9Mn
East African Cables Plc, which has subsidiaries in Uganda, Tanzania, Rwanda, Burundi, South Sudan, and the Democratic Republic of Congo, registered a net loss of KSh 301.9 million at the [...]Flame Tree Group Net Losses Fall to KSh 74.7m
Flame Tree Group, a manufacturer and distributor of plastic products and fast-moving consumer goods, recorded a net loss of KSh 74.4 million in 2023, an improvement from a net loss [...]
