Kenyan Wall Street | by Miriam Wangui
Sameer Africa, one of the largest tyre manufacturers in East Africa, reported a KSh43 million net profit at the end of December 2020, a remarkable improvement from the KSh1.1 billion net loss posted in December 2019. The manufacturer revived its tyre making business in Kenya in February 2021, nine months after exiting the venture.
The firm’s revenue dipped by 57% to KSh757 million at the end of 2020 from KSh1.76 billion in 2019, due to the brief shut down of its tyre business. Its operating expenses fell sharply to…
