(Ecofin Agency) - 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).