Market News

  • 12 EU, African associations sign MoU to help the African auto sector grow

    Posted on :Monday , 28th March 2022

    A historic memorandum of understanding (MoU) has been signed by twelve automobile organisations to accelerate the growth of the African automotive sector.

     

    A Memorandum of Understanding (MoU) was signed digitally between 12 Automotive Associations as part of the EU – Africa Business Forum 2022 with the goal of boosting the growth of the African Automotive In. . .

  • Kenya's Stanbic Bank signed an import financing deal with two vehicle importers

    Posted on :Monday , 28th March 2022

    MHH International Limited and World Navi Company Limited, two motor vehicle importers in Kenya, have formed an import finance cooperation with Stanbic Bank Kenya.

     

    With the signing of the agreement, consumers will get up to 80% financing from Stanbic Bank, with a 20% deposit paid to the importers and a payment period of up to four years.

     

    "Stanbic Bank intend. . .

  • Startups are targeting Kenya as an African EV powerhouse

    Posted on :Wednesday , 23rd February 2022

    Many e-mobility businesses have set up shop in Kenya to try to get electric vehicles on Kenyan roads, potentially turning the country into a regional centre for EVs.

     

    Working to alter areas such as public transit, motorbikes, and taxis, the firms want to leverage on Kenya's position as a worldwide leader in renewable energy, widespread technology adoption, and the government's. . .

  • Nairobi based Car & General enters the electric car market

    Posted on :Thursday , 27th January 2022

    Car and General (C&G) will begin selling electric vehicles and tuk-tuks as part of a strategy to expand into the 'green' mobility market, which is projected to increase in response to efforts to combat climate change and pollution.

     

    For decades, the Nairobi Securities Exchange-listed company has sold motorbikes and three-wheelers with internal combustion engines as part of. . .

  • Plans Underway to Introduce All-Electric Cars in the Nation says Kenya Power

    Posted on :Thursday , 27th January 2022

    Kenya Power claims that the country's innovative ambitions to enter into the all-electric car industry are well underway.

     

    Acting Managing Director Rosemary Oduor of the utility corporation said the government is closely monitoring the situation in order to make it easy for those who want to buy electric vehicles in the nation.

     

    "Kenya Power, the country's el. . .

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