Another epic leapfrog occurrence may be on the horizon for Africa. We've seen it before in sectors like telecommunications and fintech. After being exposed to the world of cell phones and, later, mobile money, the underserved and unbanked population jumped right in. They actually bypassed the fixed-line era and brick-and-mortar banking when better technologies and facilities became available, long before conventional telecoms and banking.... Read more »

Posted on : Wednesday , 5th May 2021

Gulf African Bank (GAB) has partnered with Toyota Kenya to provide financing to customers purchasing Hino trucks, buses, and Hilux pickup trucks.Customers will have access to up to 90% financing in the payment system, which will enable buyers to repay the loan in six years, according to GAB Managing Director Abdalla Abdulkhalik. “The financing is open to everybody. Motor vehicles being purchased should not be older than seven years from.... Read more »

Posted on : Wednesday , 28th April 2021

A Memorandum of Understanding (MoU) was signed by the African Export-Import Bank (Afreximbank) and the African Association of Automotive Manufacturers (AAAM) for the financing and promotion of Africa's automotive industry.In early February, Afreximbank President Benedict Oramah and AAAM President Mike Whitfield signed a Memorandum of Understanding, paving the groundwork for a collaboration. Its aim is to improve regional automotive supply chains.... Read more »

Posted on : Tuesday , 6th April 2021

Volkswagen Mobility Solutions Rwanda unveiled a new charging station on Tuesday, March 30, thanks to a collaboration between the firm, Siemens, and Radisson Blue Hotel.The new facility, located at the Kigali Convention Centre, is the second of its kind, following the one built in the Kigali Special Economic Zone.The new station, according to Serge Kamuhinda, CEO of Volkswagen Mobility Solutions Rwanda, is a move toward more environmentally.... Read more »

Posted on : Wednesday , 31st March 2021

The CEO of the company, Dinesh Kotecha, said, "We are looking forward to the Proton Saga and indeed the Proton brand storming the Kenyan market because we believe that this is a solution that our customers have been waiting for and finally delivered."The Proton Saga is manufactured locally at the Associated Vehicle Assemblers plant in Mombasa and comes with a 5 year warranty of 150,000KM.Kotecha said the firm had signed a number of banks to make.... Read more »

Posted on : Thursday , 11th March 2021

The Government of Kenya has extended the time limit for imports of used cars from two years to five years as it is geared towards the promotion of locally assembled vehicles. Treasury CS Ukur Yatani, on Monday, January 25, said the government would phase out second-hand cars by 2026. Car dealers had until 2023 to import second-hand vehicles under an earlier plan unveiled in 2019.The new proposal will offer them the right to be out of business.... Read more »

Posted on : Monday , 1st March 2021

Tata Motors, an Indian car manufacturer, has introduced a new brand car on the local market, a sign of a fast-growing vehicle market and an opportunity for users to contribute to the preservation of the environment.The available statistics show that the car market in Tanzania increased by 5.3 per cent last year in the midst of the coronavirus pandemic compared to the previous year.In this initiative, Tata Motors and its sole authorized.... Read more »

Posted on : Thursday , 25th February 2021

The African Export-Import Bank (Afreximbank) and the African Association of Automotive Manufacturers (AAAM) have entered into a Memorandum of Understanding (MoU) to finance and promote the automotive industry in Africa."The strategic partnership with AAAM will facilitate the implementation of the Bank's automotive programme aimed at catalysing the development of the automotive industry in Africa as the continent begins trade within the African.... Read more »

Posted on : Monday , 22nd February 2021

In August last year, just as the global auto industry began to spot green recovery after the worst coronavirus carnage, German carmaker Volkswagen unveiled its first vehicle assembled in Ghana, the Tiguan SUV, in the existence of Ghanaian President Nana Addo Dankwa Akufo-Addo.The event marked the official opening of the VW's first vehicle assembly plant in the West African country and the fifth in sub-Saharan Africa; the other locations are in.... Read more »

Posted on : Monday , 8th February 2021

Isuzu East Africa is back on the Tanzanian market with the introduction of a dealership run by its new distributor—Al Mansour Auto EA (Tanzania) Limited.The Japanese vehicle manufacturer, initially represented in Tanzania by Quality Motors Limited, are lacking from the market for three years."We are thrilled to re-establish our occurrence in Tanzania through our dealer Al Mansour Auto Limited," Rita Kavashe, Chief Executive Officer of Isuzu,.... Read more »

Posted on : Thursday , 21st January 2021

Leading online auto market Cheki Kenya has launched a 100% auto finance service in partnership with major banks across the country to help ease the financial burden of car purchases in Kenya.Cheki Finance's 100 percent car loan service provides quick loans to buy locally and imported used vehicles and brand new cars listed on the site.An average of 8000 listings appear on the site on a monthly basis with a traffic volume of 1 million visits per.... Read more »

Posted on : Tuesday , 12th January 2021

The African two-wheeler market is projected to grow at a CAGR of 12% by 2025, on the back of an inadequate public transport system, growing urbanisation and increasing imports of two-wheelers across the region.In addition, the increasing penetration of Chinese and Indian low-cost two-wheelers in the African two-wheeler market by two-wheeler importers gives customers more options, which are expected to have a positive impact on the market during.... Read more »

Posted on : Tuesday , 5th January 2021