Trending
- Water management: Tech solutions for Africa’s water crisis
- China influence in Tanzania sparks economic growth
- Africa healthcare: Calls grow for self-reliance as foreign aid dries up
- Tanzania’s eCooking push signals new era in sustainable energy shift
- Tanzania makes strong case for blue economy as pillar of sustainability
- Policymakers bet big on Islamic finance to reshape Africa’s MSME economy
- Marriott and Hilton growth blueprint signals new era of Africa’s hospitality industry
- Tanzania national debt grows, tighter fiscal measures urged
Browsing: Construction market
The coronavirus pandemic continues to have devastating effects on key markets in the Kenyan economy, among them paints and coatings.
This is according to Crown Paints Group Chief Executive Officer Dr. Rakesh Rao who has attributed the high cost of raw material in the paint industry to continued impact of virus.
The CEO said the situation remains worrying, particularly, on how it has impacted on the cost of raw materials, both on price of materials and loss of time due to worldwide logistical inefficiencies.
Dr. Rao said raw materials costs had increased by between 40-60 percent and warned that should the situation continue, the construction sector’s overall performance would be negatively affected.
“We remain cautious due to the continued lockdowns in the country. For instance, partial lockdown in Kisumu County, one of our strongest markets, has adversely affected our sales”, Dr. Rao explained.
To deal with the changed brought forth …