Toyota dealer CFAO Motors Kenya is set to buy additional shares worth about Sh1 billion to take control of Thika-based assembler Kenya Vehicle Manufacturers (KVM), signalling its plan to take charge of its production at the facility that has suffered from years of underinvestment.
CFAO, which has been relying on Simba Corp’s Associated Vehicle Assemblers (AVA) plant in Mombasa to produce most of its vehicles, currently owns a 32.5 percent stake in KVM.
