Toyota dealer takes 99.4pc stake in KVM after Sh2.4bn investment

CFAO Mobility Kenya has taken a 99.4% controlling stake in Kenya Vehicle Manufacturers (KVM) after a Sh2.4 billion investment. The capital injection diluted the stakes of CMC Holdings and the National Treasury, each now holding 0.3%. CFAO plans further investments to make KVM the center of its assembly operations, reducing reliance on Associated Vehicle Assemblers.