CMC eyes EA market

Auto dealer Cooper Motors Corporation (CMC) Holdings Ltd has sets its sights on regional markets and is in the process of setting up an $8million (Sh640 million) new vehicle project in the Tanzania's capital Dar-es-Salaam.

The company which has been in operation for 60 years in Kenya has put a halt to local expansion programmes and will now instead go for the regional markets.

"Having operated in this country for 60 years we have reached a stage where we can now look at the other East African countries in preference to Kenya," says Martin Forster, the Group's chief executive.

The motor traders operation facility located on the main highway between the airport and the city is expected to boost up the company's presence in Tanzania.

Forster says that new investment in Kenya at the moment is quite limited. "We are, however, investing quite heavily in Tanzania where we have acquired land and building a new vehicle project in Dar-es-Salaam," he added.

The company's new investment consists of $3 million (Sh240 million) expenditure incurred on land acquisition and $5 million (Sh400 million) on showrooms, parts and service operation.

"Our investment in Mbeya will follow much later once we have established ourselves in Dar-es-Salaam," says Forster.

The company's existing investment in Kenya includes eight branches, five divisions in Nairobi and residential houses.