Business Daily | by John Mutua
The cost of second-hand cars has jumped by up to 12 per cent or Sh500,000 per unit over the past three months, propped up by the weakening of the shilling to historic lows against the dollar in the wake of coronavirus-related economic shocks.
The shilling on Tuesday traded at Sh110.15 units to the US dollar from Sh106.4 in June and Sh102.3 in March – prompting the importers of items like cars, fuel, second-hand clothes and industrial machinery to pass the additional costs to consumers…
