Local News

William Lay, the Chief Executive of General motors East Africa (GMEA), has said their operations in the region will not be affected by its parent company's decision to file for bankruptcy.  Lay says creditors of General motors Corporation(GMC) have no claim on the East African Operation, as its assets are not used as security for GMC's obligation.

"The filing has nothing to do with the other operations of General motors including East Africa, we are debt free, profitable and it will be business as usual for us," says Lay.

Charges for transit cargo freight have gone up substantially over the last few months. Importers who were paying Ksh 319,407 for a 40" container (or Ksh12, 281per tonne) last year are now paying Ksh 383,288 to transport cargo from Mombasa to Kampala.  Mombasa serves as a feeder port of the land-locked countries within the greater East African region. This rise in charges has been attributed to increased activity arising from relief food imports.

The Motor sports fraternity is reeling in shock and disbelief following the sudden demise of reigning KCB Kenya National Rally Championship (KNRC) Navigator Champion, Farouk Yusuf.

Further details couldn't immediately be established, but sources close to the deceased confided he was found dead in a car in Mombasa in the early hours of Thursday morning on April 9.

Nine local motor body builders are set to benefit from General Motors East Africa (GMEA) plan to outsource its body building unit.

When the plan takes effect, General Motors will only assembly imported knocked down kits and put together the chassis before handing over the skeleton to the approved body builders.

This is definitely welcome news for the body builder who have not been spared by the effects the raging global economic recession. The bodybuilders have been complaining of banks unwillingness to lend and asset finance them.

Kenya’s chaotic public service vehicle operators have brought down yet another insurance company. Standard Assurance is the latest victim of the ever increasing number of fraudulent claims particularly from the matatu sector which has been shambles since the collapse of the Michuki transport rules.
The Insurance Regulatory Authority (IRA) announced on Wednesday that Standard Assurance had been placed under receivership after failing to meet its debt obligations to policyholders. The new managers are HLB Ashvir, a consultancy firm.

General Motors East Africa Ltd has urged members of the East Africa Legislative Assembly (EALA) to quickly enact the region’s industrialisation policy.
The law would help partner states focus on ways of attracting investment in the region, says Bill Lay, the General Manager.

The business community in Nairobi is asking the government to deal with traffic congestion before implementing a long-term plan for a metropolitan transport system proposed by the Nairobi Metropolitan Ministry.
The Nairobi Central Business District Association (NCBDA) there is burning need to reorganize the transport system in the city’s transport system.
Timothy Kuria the NCBDA chairman says he knows there are plans to solve these problems but short term solutions should be devised first.