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Vehicle importers feel the pinch of weakening shilling

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Car Carrier, MV Morning Calm, offloading at the Port of Mombasa. [Maarufu Mohamed, Standard]

Motor vehicle dealers and industry stakeholders are struggling to remain profitable as the Kenya shilling continues to fall against the US dollar, eroding profit margins and increasing the cost of doing business.

The Shilling on Tuesday hit an all-time high of Sh130 against the US dollar, plunging importers already strained by disruptions in the global market into further turmoil.

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