Curtains close for East Africa’s automotive powerhouse CMC Motors Group after announcing it is closing its operations in Kenya, Uganda and Tanzania. The automotive firm said it has been facing several economic challenges “including economic pressures, currency depreciation, and rising operational costs”. “However, despite restructuring efforts and a transformation programme initiated in 2023, the market…...
Trending
- Cameroon: Government revokes fifty gold exploration permits
- Gabon: Prometal invests 38 billion CFA francs in a steel plant
- In Ouagadougou, the Council of Ministers of the UEMOA focuses on several strategic issues
- Australia-Egypt: two economies, two worlds before the round of 16
- Togo cuts installation costs for airlines
- CEMAC: Foreign exchange reserves decline, BEAC monitors external position
- Coris Bank International Togo: total assets exceed one billion dollars
- Guinness World Record Attempt: Congolese Madzou Moukassa announces 25,529 meals prepared in 24 hours
CMC Motors exits East Africa on challenging economic environment
Muthoga Mungania
Muthoga Mungania is an award-winning, Nairobi-based multimedia journalist covering economic, corporate, financial, tech and investor relations matters among other business stories. Muthoga is seasoned in data and market analysis, corporate finance, and economic trends, making them a trusted voice in East African business journalism, communications and consultancy.
Add A Comment
About us
Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, give meaning to statistics….
Contact us: redaction@financialafrik.com