Equity Bank and Toyota Kenya Limited clients would now be able to access up to 95% financing payable within 60 months on the single cab Hilux pickups. This follows a partnership agreement signed between Equity Bank and Toyota Kenya that will see the two organizations capitalize businesses and people keen to grow but are frequently because of absence of enough capital.   Talking at the launch function, Equity Bank Kenya Managing Director,.... Read more »

Posted on : Wednesday , 12th June 2019

German car maker, Volkswagen (VW), taking a bet on the upward trajectory of car ownership, last year launched a US$20 million car assembly plant in Kigali, the capital of Rwanda in an expansion drive across Africa.  Quickly after, VW also launched its robust mobility service, Move, with a new business model that has it controlling the entire value chain from providing its own cars to its own drivers. With its ride sharing and ride hailing.... Read more »

Posted on : Wednesday , 29th May 2019

A struggling economy, political uncertainty, fragile consumer confidence, mounting pressure on disposable income, and diminished purchasing power as a result of higher interest rates and fuel price hikes, have all taken their toll on domestic new vehicle sales in South Africa. However, it’s not all doom and gloom for the automotive sector. According to the latest new vehicle sales statistics released by the National Association of.... Read more »

Posted on : Wednesday , 29th May 2019

Reginald Mengi an industrialist based in Dar-es-Salaam signed a deal with a South Korean firm to set up a vehicle assembly plant in the country. The $10 million deal between Youngsan Glonet Corporation and Mengi’s IPP Automobile Company Ltd will make it the second  vehicle assembly plant in Tanzania. The other one is a Polish tractor assembly plant at Kibaha called Ursus. Mr. Mengi, the IPP group executive chairman, also shows immense.... Read more »

Posted on : Tuesday , 30th April 2019

The competition for affordable and decent modes of transport continues as the digital startup Voltic Africa plans to introduce a booking App that allows commuters book bus tickets to and from the Nairobi Central Business District in the next 18 months. The announcement comes a month after the organization launched a bus booking App I-abiri where travellers can book up to 10,000 bus routes across East Africa. Chief Executive Officer Voltic.... Read more »

Posted on : Wednesday , 24th April 2019

Kenya is planning to develop a policy that will boost motor vehicle exports to East African countries. Mr. Stephen Odua the director of private sector development at the Ministry of Industry, Trade and Cooperatives told journalists in Nairobi that all relevant stakeholders are currently reviewing the national automotive policy. The country's exports of automotive products to the East African Community bloc will increase from the current five.... Read more »

Posted on : Tuesday , 23rd April 2019

Kenya is preparing to expand a policy that will boost motor vehicle exports to East Africa. Stephen Odua, director of private sector development at the Ministry of Industry, Trade and Cooperatives told journalists in Nairobi that all admissible stakeholders are presently examining the national automotive policy. "When in place the new policy will assist Kenya to scale up local production of vehicles so that the country's exports of.... Read more »

Posted on : Monday , 22nd April 2019

Foton Motor Company a Chinese automobile maker is establishing a truck assembling plant in Tanzania in order to extend its foray in the East African region.The firm’s strategy to set up the facility is in line with the country’s fifth phase of the governments target’s on industrialization. The President John Magufuli has pushed the dream in the country as he looks to make a significant impact before his time as a President.... Read more »

Posted on : Wednesday , 10th April 2019

The Automotive Industry Development Centre (AIDC) has begin the first step of a R50 billion mega-development which will see Rosslyn, north east of Pretoria, become the new automotive manufacturing capital of South Africa, and a leading automotive investment destination in Africa. South Africa’s capital, City of Tshwane, is set to become the automotive capital of Africa with the development of Rosslyn Hub, a R50 billion Auto City.... Read more »

Posted on : Friday , 5th April 2019

As Nissan targets major towns across the country to boost its market in Kenya, Nissan is expanding its dealership footprint locally in sharing market space dominated by players like Toyota Kenya and Isuzu East Africa. Nissan Chairman Mr. Jim Dando, the company is exposed to more customers and when there is a bigger presence in the market it will help grow the market share as well. With full sales, spares and service dealership in Nairobi,.... Read more »

Posted on : Friday , 22nd March 2019

Kenya is all set to become a topmost vehicle manufacturing giant, if the high potential undertaken by President Uhuru Kenyatta’s administration to energies the automotive industry results into action. Global car maker Nissan has announced investment plans of Sh2 billion in a local assembly line, a move that will make Kenya only the 21st country where the company manufactures its vehicles.   Along with global vehicle makers who have.... Read more »

Posted on : Friday , 22nd March 2019

The FDI promotion and Technology Transfer Affairs Directorate General of the MoFA took part in the U.S.-Africa Trade and Investment Forum organised by the Corporate Council on Africa (CCA) and the U.S. Mission to the African Union in Addis Ababa On February 12, 2019.   In order to examine ways to advance private sector-led economic growth in Africa, the event brought together the African and U.S. private sector, African heads of state,.... Read more »

Posted on : Friday , 22nd March 2019