Market News

E-hailing taxi company Uber is reportedly negotiating cheaper deals for new vehicles with Kia to boost its number of drivers fivefold in the Nigerian city of Lagos.   Bloomberg reported that Uber is hoping the low-cost deals will help boost its driver tally in Lagos – Africa's most popu . . .

TOYOTA has left its Taco sitting on the counter since 2005, and it has almost gotten stale. By default, those hungry for a mid-size truck have had no choice but to clog their noses and scarf down what Chef Toyota was cranking out of its kitchen until the new Chevrolet Colorado and GMC Canyon came ou . . .

Mahindra Two Wheelers Limited, a member of the Mahindra Group has expanded its business operation to Nigeria with the launched of its two wheeler range in the country. Mahindra Group is a $16.9 billion automotive global business.   The firm has also appointed M/s VIP Merchandise Enterprise Li . . .

 The government has acquired 100 per cent stake in the defunct General Tyre East Africa (GTEA) in an effort to revamp the once model tyre manufacturing plant in East and Central Africa.   However, despite the previous arrangement that gave it the majority shareholder of 74 per cent with . . .

Ford Motor Company has announced that it will begin assembly of the Ford Ranger pickup truck in Nigeria from Q4 2015 as part of its expansion plans for the Middle East and Africa The pickup will be assembled in Ikeja, situated in Lagos State. For the project, Ford is partnering with its dealer gr . . .