More than half of new cars assembled in Kenya on lower taxes
More than half of the new vehicles sold in Kenya are now assembled locally, driven by dealers’ bid to lower their tax bill and offer competitive pricing.
Data from the Kenya National Bureau of Statistics shows that 5,456 vehicles were assembled in Kenya in the ten months to October 2012, representing 52.3 per cent of the 10,422 new vehicles sold in the same period.
This is up from 5,106 units assembled in the same period the previous year, which accounted for 48.2 per cent of the total 10,578 new vehicle sales.
Al Futtaim Group moves closer on takeover of Kenyan car retailer
Al Futtaim Group has cleared another hurdle to take over Kenya’s listed car retailer CMC Holdings as the Dubai-based conglomerate aims to tap into lucrative new African markets.
The offer to existing shareholders of CMC is now open, in what will be one of Kenya’s biggest foreign direct investment deals this year.
In September, Al Futtaim announced its intention to buy 100 per cent of the share capital of CMC at 13 Kenyan shillings per share. The acquisition will be made through its subsidiary Al Futtaim Auto & Machinery Company (Famco).
The takeover proposal has received the approval of 50.6 per cent of CMC shareholders, who have undertaken to sell their shares once the offer opened.
Mitsubishi Expands in Kenya
It is rather a return to Mitsubishi , which has chosen to implement a new official office in Nairobi. An office to monitor the activities of the brand on the African continent.
The Africa arouses the interest of a growing number of European and Japanese manufacturers. The continent has a significant potential impact, and it is the intention of the person to be transformed into guarded ... Chinese fighter.
After Honda , it is the turn of Mitsubishi announced the establishment of a formal representation in Kenya.
Woodfuels in Kenya and Rwanda: powering and driving the economy of the rural areas
The woodfuel sector in developing countries is an important source of energy both for firewood and charcoal and livelihoods for the rural poor in terms of job creation and income generation from sales of firewood of the same products. In Rwanda, woodfuel had a turnover of 122 million US dollars in 2007, which is about 5 percent of the country's GDP. In Kenya, 1.6 million tonnes of charcoal are consumed each year with a turnover of about 419 million US dollars.
About 20 percent of the revenue generated by firewood and over 40 percent from charcoal is retained in the rural areas by the farmers and labourers in both countries, boosting the rural economies.
