Kenya’s Mombasa port has mobilized an amount of KSh20 billion to upgrade four berths, allowing it to now handle both container cargoes and goods not packed in containers, Daniel Manduku, MD of the Kenya Ports Authority -KPA-, announced.
The investment, backed by the European Investment Bank (EIB) and the French Development Agency (AFD), is motivated by the growing demand for freight in the Eastern Africa region where most economies are growing by at least 5% a year, the official explained.
Once the modernization project is completed, the annual freight traffic at the port is expected to reach 47 million tons in 2025, from 32 million tons in 2018. This year, freight traffic is expected at 34 million tons. KPA will spend an additional KSh39 billion to build a new oil terminal to replace its existing facilities dating back to 1968.
Built in 1895, the port of Mombasa is the main gateway for trade in East Africa, also serving other countries such as Uganda, Somalia, Rwanda, and South Sudan. Currently the port is the fifth most active in Africa behind the port of Tangier Med (Morocco), Port Said in Egypt, the port of Durban in South Africa and the port of Lagos (Nigeria).
Romuald Ngueyap
Telecel Ghana to boost network investment by 150% in 2026 Expansion targets capacity, reliabi...
CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA trai...
Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...
BOAD plans 750 billion CFA francs financing for Burkina Faso Funds to support key sectors and Rel...
Yassir moves into media distribution in France with the acquisition of Paris-based adtech firm Kaw...
Altona lists on US OTCQB to access American capital Move supports Mozambique Monte Muambe rare earths project development Listing aligns with US push...
DRC, South Africa to resume Inga 3 talks in April Plans include boosting power exports up to 5,000 MW $10bn+ project still in planning with World...
Cameroon banana exports jump 36% to 27,674 tons in January Growth driven by French group subsidiaries PHP and CDBM Compagnie Fruitière dominance to...
Djibouti receives a $35 million grant to expand rural access to drinking water The project will benefit over 120,000 people and strengthen...
Event highlights growing role of diaspora entrepreneurs across multiple sectors Networks support trade, investment and SME...
Afreximbank launches Impact Stories season two highlighting trade-driven transformations Series features projects across Africa and Caribbean, from...