SGR

SGR dynasties
FeaturedNews
Otiato Guguyu and Kaunga Junior

Ruto imports revive fortunes of SGR dynasties

Around the middle of last year, employees at Mitchell Cotts Freight Kenya Ltd, one of Kenya’s largest logistics companies, received a surprising email. It indicated that those who wished to leave the company were free to do so. Through a voluntary early retirement package, the company generously offered 31 days’ pay for every year worked, including financial training from ICEA Lion, an affiliate of the firm’s owners. At that time, the restructuring was not entirely surprising, given that Kenya’s economy had stagnated post-Covid-19, which had severely impacted the logistics business. Furthermore, a disruptive European war had exacerbated the situation. However, beyond the economic challenges, local…

Read More
Port of Mombasa
CountiesNews

Port of Mombasa activity declines as cargo traffic drops

The number of ships docking at the Port of Mombasa decreased by 4.5 percent to 1,561 in 2022 reflecting decreased activity in Kenya’s transport sector during the year. The slowdown in the sector’s growth was partly on account of a decline in total cargo throughput at the Port of Mombasa by 1.9 percent to stand at 33.74 million metric tonnes in 2022. The latest data from the Kenya National Bureau of Statistics shows that import cargo traffic went down by 2.3 percent to 26.7 million metric tonnes in the year under focus when the country’s real GDP expanded by 4.8 percent on shrinking agricultural output….

Read More