Read < 1minuteTop Tyre company shuts down production in Kenya
Sameer Africa is closing down its Yana tyres manufacturing company in Nairobi. The company cites an increase in competition from cheaper imports.
Through a notice to the Capital Markets Authority (CMA) the company said that its board had decided to discontinue local tyre production at its factory on Nairobi Mombasa road.
The company intends to outsource its tyres from producers in low-cost China and India – a double whammy for the Kenyan economy in terms of job losses and waning momentum to industrialise.
