Browsing: raw materials

• The Flame Tree Group has announced a profit warning for the year ended December 31, 2022 
• The earnings decline is due to  an increase of raw material prices, shipping costs, as well as depreciation of the local currencies against the US Dollar (USD). 
• It is predicted that earnings for the year will be at least 25 percent less than the level of earnings in the previous year.

Kenya’s manufacturing giant, Flame Tree Group has announced a profit warning for the year ended December 31, 2022 stating that the earnings will be at least 25 percent less than the level of earnings in the previous year.

The firm attributes the decline to the increase of raw material prices, shipping costs, as well as depreciation of the local currencies against the US Dollar (USD). 

According to the firm, the price of plastics have gone up by 70 percent compared to 2021 while …

The challenge facing the EAC is not the lack of natural resources but the lack of high-tech industries. China is a perfect example of a country that transformed from an agricultural civilisation to an industrial one. More than 850 million individuals have been lifted out of poverty due to recent economic growth brought about by China’s industrialisation.

Without involvement in the fourth industrial revolution, the East African Community would never be able to escape its state of backwardness. Therefore, the DRC will catalyse industrial transformation inside the East African Community, Africa and the world.…