Business highlights – January 11, 2018

Business highlights – January 11, 2018

China Wuyi to set up property firm in Kenya

China Wuyi Ltd plans to set up property units with a registered capital of 600 million Yuan. The company says the units plan to invest in two construction material production production projects.

Credit crunch prompts vehicle buyers to shift towards low priced imported cars

Vehicle buyers made a shift towards low-priced imported cars following tough economic climate in 2017 punctuated by an acute credit squeeze from banks and prolonged election cycle.“More people are going for small budget cars such as Toyota Belta,” said Charles Munyori, Secretary-General of Kenya Auto Bazaar Association, a lobby group for second-hand car dealers.“Increased use of services such as Uber definitely has a hand in this as young people buy units they can afford for business.”

Nakuru airport upgrade hopes to boost tourist numbers

A state-backed plan to upgrade the Lanet Airstrip and have an International airport in Nakuru is well underway. Kenya’s Ministry of Transport and Infrastructure said the airport will be upgraded to accommodate large commercial planes. The upgrade is expected to boost commercial activities in the county.

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