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
- World Criminal court to hear Sudan genocide case against UAE
- Exclusive interview with Swazi Tshabalala, candidate for the presidency of the African Development Bank (AfDB)
- IFC loans Airtel Africa $100 million for expansion in Kenya, Rwanda
- Congo: 13 reading points operational because of the partnership between IFC and Congo Terminal
- MTN, Airtel Africa to share network in Uganda and Nigeria
- Kenya Airways rebounds to profitability after more than a decade in losses
- Real estate sector main avenue for dirty money in Africa- U.S says
- The IMF should clean its own house