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Sameer writes off Sh403m investment in subsidiaries

Sameer Business Park on Mombasa Road in Nairobi. Sameer has faced increased competition from established and new tyre brands besides counterfeits. FILE PHOTO | NMG

By  Victor Juma

Business Editor

Nation Media Group

Tyre distributor Sameer Africa #ticker:FIRE has written off Sh403.6 million of its investment in its regional subsidiaries, indicating that it expects to lose the capital.

The subsidiaries in Uganda, Tanzania and Burundi, like the Kenyan parent company, have lost market share and have been making losses for years.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.

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