The investment hands CFAO near-total control of Kenya Vehicle Manufacturers and signals a fresh push to expand local vehicle assembly.
By
Victor Juma
Business Editor
Nation Media Group
CFAO Mobility Kenya has taken a controlling stake of 99.4 percent in Thika-based Kenya Vehicle Manufacturers (KVM) after investing Sh2.4 billion in the assembler.
The company is also positioning itself to benefit from the government’s growing interest in electric mobility.
Simba Corp also plans to begin assembling its own electric vehicle models at the facility, starting with passenger cars before…
The three-year programme is aimed at supporting Kenya’s goal of becoming a regional automotive manufacturing hub.
Chery Automobile has agreed to invest $75 million in South Korea's KG Mobility (KGM) through convertible bonds. If the bonds are…
Kenya’s Simba Corp is investing $7
Transaction will give Marubeni entry into Southern Africa’s vehicle servicing market
