demons are feasting on our economy


[SIZE=7]Kenya’s Sole Tire Manufacturer Shuts Down, Cuts 600 Jobs[/SIZE]
Mfonobong NseheContributor
I chronicle Africa’s success stories and track its richest people

Sameer Africa, Nairobi’s sole tire manufacturer, has announced that it will cut as many as 600 jobs following a decision to shut down its factory in favor of tire imports from China.
Sameer Africa, which is listed on the Nairobi Stock Exchange, is controlled by multi-millionaire businessman Naushad Merali, who is the largest shareholder in the company. Merali is the chairman of Sameer Group, a conglomerate with interests in agribusiness, telecom and property. He owns a 72.1% stake in Sameer Africa.

Japanese Prime Minister, Shinzo Abe (R) listens as Kenya’s President Uhuru Kenyatta delivers his closing remarks at the end of the sixth Tokyo International Conference on African Development (TICAD) in Nairobi on August 28, 2016. Photo credit: TONY KARUMBA/AFP/Getty Images
In a statement to the Nairobi Securities Exchange, the company also issued a profit warning due to expected impairment and employee severance costs.
“Regrettably, cessation of factory operations will result in a number of employees being declared redundant,” the company said in its statement to the Nairobi Securities Exchange.

Sameer Africa has struggled in recent times as high competition from cheap Asian imports had eaten into its market share. The company posted a $150,000 loss in the year ended December 2015.
A text message to Naushad Merali asking for a comment was not responded to as at the time of filing this report.
Follow me on Twitter @MfonobongNsehe. Email: mfon.nsehe (at)

We chose China imports as consumer but while doing that we put our economy at risk.
Coat of living pushes us to china imports.

chinese imports are not cheaper, they are cheating the system

Well when you buy a tyre for 4k is that cheating the system?
A good quality tyre starts at a higher price than that…

So sorry about that, but for sure, sameer tires are the best.

News za 2016 ndio unatuekea hapa nugu.
Sameer closed tyre production years ago.

did you watch the video ?

I thought so to.

Nugu, what has the video got to do with the text

kama huelewi nyamaza

Kumbe it’s true? :eek:

Chinamen are merciless fucks.

Hiyo ni kawaida ya hio mbwa @Micymas. Juzi pia nilimwambia ameweka news za 2016 akaanza matusi kama malaya amepigwa combi usiku mzima akakosa malipo.