Trade X, a business-to-business cross-border automotive trading platform based in Ontario, Canada, has opened a new Kenyan trading corridor, expanding its reach across the African continent.
The new facilities include both a shared bonded warehouse in Mombasa and an office in Nairobi.
TRADE X offers auto dealers, car rental companies, fleet owners and mobility solution providers an end-to-end process for sourcing and distributing cross-border vehicle inventory.
According to Trade X, Kenya, with the highest GDP in East Africa, is a strategic location, providing a direct-access route to trade with landlocked countries such as South Sudan and Uganda, where it is legal to drive vehicles registered in neighboring countries.
“Kenya is a high-quality and discerning market,” said TRADE X SVP of Global Business Development Eric Gosselin. “Because the inspection process in Kenya is so rigorous, Kenyans prefer to purchase foreign pre-owned vehicles rather than buy locally. We are excited to set up our East African base in Kenya as we move closer to adding right-hand-drive vehicles to our platform.”
The bulk of automobiles in Kenya originate in Japan. Popular automotive brands, according to Trade X, include Toyota, Honda, Mazda, Nissan and Subaru. Vehicles must be no older than seven years, and cars must pass an inspection process before arriving into the country. Vehicles shipped to Kenya without first passing an inspection are destroyed.
TRADE X plans to open new trade routes between Kenya and countries such as the UK, Australia, Thailand, South Africa, Singapore and the United Arab Emirates.
Trade X and its AI-driven 'Brain' software provides support in all aspects of vehicle trading, including trade financing, compliance, customs requirements, international payments processing, vehicle inspections, digital trade documentation, and homologation.