RMA taps into Kenya’s growing new car market

Vehicle sales in Africa have risen significantly in the last few years, following growing demand among the continent’s burgeoning middle class that are trading up public transport and jalopies for new personal cars. Competition is rife in the auto industry as existing global brands and new entrants fight off competition from second-hand cars.

Thailand-headquartered RMA Group expanded to Kenya earlier this year following an opportunity created by the review of the Jaguar Land Rover distributorship contract. Previously, the Jaguar Land Rover franchise deal was held by the CMC Holdings which is set to be acquired by Dubai-based conglomerate Al-Futtaim Group for US$86m.

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Ford to launch 17 vehicles in Middle East and Africa by 2015

Ford, one of the world's largest auto makers, has its operations active in a lot of countries, both developing and developed. The USA-based auto maker has developed its global strategy with a handful of cars that sell in huge numbers. At present, it is performing really well in India as Ford EcoSport has virtually taken the market by storm. Now, according to reports, the Blue Oval has announced launch of 17 new vehicles over the next 24 months. As indicated, this move is an attempt from the company to facilitate growth in regions like Middle East and Africa.

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Kenya Airways poised for lift-off

Kenya Airways expected to post higher profits next year, thanks to the planned delivery of fuel-efficient planes and the expansion of its Nairobi hub, the carrier said yesterday.

The company, which is 26.73 percent owned by Air France-KLM and 29.8 percent by the Kenyan government, is ranked among the largest carriers in sub-Saharan Africa.

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Centum’s costs rise on investments, posts 10.67pc growth in net income

Centum Investments has posted a 10.67 per cent growth in net income in the six month period ended September driven by growth in investment income and a corresponding increase in costs. The Nairobi Securities Exchange (NSE) listed firm, which has been investing heavily in real estate in Kenya and Uganda has said that profits after tax rose to Sh892 for the period ended September 2013 from Sh806 million over a similar period ended September 2012.

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