Mobius gets Sh500m US loan to build plant

Kenyan vehicle manufacturer Mobius has received a Sh500 million ($5 million) loan from the US government’s development finance institution Overseas Private Investment Corporation (Opic) to set up a new factory.

Mobius Kenya said the Nairobi factory, to be unveiled mid this year, will be equipped with new technology that enables end-to-end production capabilities that include fabrication of the vehicle frame, anti-corrosion treatment, general assembly, painting and final inspection and quality testing.