Market News
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META Electric Starts Leasing BYD T3 Electric Vans In Kenya
Posted on :Wednesday , 5th May 2021
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, l. . .
Toyota Kenya and Gulf African Bank Have Signed A Truck Financing Agreement
Posted on :Wednesday , 28th April 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 . . .AAAM & Afreximbank have signed An Agreement to Increase Automotive Investment in Africa
Posted on :Tuesday , 6th 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 collaborat. . .Simba Corp Commences Sale of Locally Assembled Proton Saga Saloon Car
Posted on :Thursday , 11th 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 150,000K. . .Kenya Extends the Time Limit for Imports of Used Cars
Posted on :Monday , 1st 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.
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