General Motors East Africa has rebranded to Isuzu East Africa effective from August 1, after the acquisition of a 57.7 percent stake. The rebranding came after the acquisition of a 57.7 percent stake in the company by the Japanese Car maker from General Motors at the start of the year.
The deal was reached when it emerged that 97 percent of GM’s sales were of Isuzu vehicles, with the car maker keen to capitalize on the leverage to spread across east Africa.
The car maker will retain staff under the sale agreement, while its current General Manager, Ms. Rita Kavashe remains as General Manager for Isuzu East Africa
Speaking during the event to mark the name change, Ms. Kavashe said Isuzu East Africa would continue to assemble and distribute Isuzu buses and light, medium, and heavy-duty trucks, as well as the popular Isuzu D-Max pickups for the market.
Kavashe, “We believe that great opportunities lie ahead for Isuzu East Africa and the Kenyan economy. As a company, Isuzu Motors has committed to bringing manufacturing and after sales expertise to the business that will enable us to further build upon our success in Kenya. Our focus over the next five years is to accelerate our growth in other East African markets and beyond.”
Isuzu East Africa is the market leader in car sales accounting for 36 percent market share. Under the sale agreement, Detroit based GM will take away its Chevrolet franchise from Isuzu East Africa as part of the termination of the alliance between the two automakers.
Other shareholders in Isuzu are Centum Investments with a 17.8 per cent stake, ICDC at 20 percent and Itochu Corporation which has a 4.5 percent stake.