Iran strengthens Uganda-Kenya collaboration in the automotive industry

Significant strides in diplomatic ties between Kenya and Uganda, particularly in the automotive sector, have been made as a result of the recent visit of Iranian President Sayyid Ebrahim Raisi to the two East African nations.

 
At State House in Nairobi during his visit, President Raisi and Kenyan President William Ruto held bilateral discussions about how to promote cooperation and mutual advantages.
 
The signing of a strategic cooperation between renowned Iranian automakers Zamyad Company and Saipa, Iran's second-biggest vehicle manufacturer, and Quipbank Trust Limited, East Africa's largest equipment-sharing platform, was one of the highlights of President Raisi's visit.
 
As part of this historic alliance, Quipbank Trust Limited will act as the distributor for hybrid light commercial vehicles that operate on CNG, LPG gas and electricity as well as the exclusive dealer for a variety of vehicles, such as gas-powered trucks.
 
These gas-powered trucks provide an economical alternative to diesel and petrol-powered versions because to their dependability, stylish style, and great economy.
 
The deal, which marked Iran's growing presence in Africa through the distribution of its automobiles via Quipbank Trust Limited in East Africa, was signed during a ceremony at the State House in Nairobi, Kenya.
 
The regional managing director of Quipbank Trust Limited, Paul Njeru, emphasised the value of these all-terrain vehicles in sustaining rural areas and navigating difficult terrain, particularly during rainy seasons. He also expressed excitement about the collaboration and the positive effects it will have on transportation and economic growth.
 
As part of the cooperation, Quipbank Trust Limited will buy, market, advertise, and resell Saipa's light commercial vehicles, increasing links between Kenya and Iran as they strive for improved diplomatic ties.
 
The vice chairman of the board of the Iranian-based car dealer, Seyed Mohsen Mortazavi, commended the cost and environmental advantages of the gas-powered trucks.
 
Utilising cleaner energy sources, such petrol, lowers carbon emissions, making the cars more cost- and environmentally-efficient for users.
 
The Iranian automaker Zamyad Company has won several accolades in the sector, including the esteemed "Champion of the Automotive Industry" title.
 
Similar to this, Quipbank Trust Limited has been honoured with several honours for quality and innovation, including the Pacesetters honours Africa Pacesetters Award (PSA).
 
President Ruto announced plans for Zamyad to develop a motor vehicle assembly factory in Mombasa, which will be a centre of excellence for the EAC area, in order to further improve ties between Iran and East Africa and support local manufacturing.
 
The factory will produce local Iranian car models under the brand name "Kifaru," which is a Swahili term that means rhinoceros.
 
This project intends to lower transit costs and support the nation's economic growth, particularly in these trying times.

Posted on : 15 May,2024 | News Source : ABNews

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