Shippers are advocating for reforms on container deposit requirements at the Port of Mombasa, collaborating with Viaservice Kenya Limited, a subsidiary of Swiss-based Viatrans SA, to address these challenges. The Shippers Council of Eastern Africa (SCEA) has signed a Memorandum of Understanding with Viaservice to implement the Viaservice Container Solution (VCS), which aims to eliminate cash deposit requirements and advance the settlement of container demurrage, damage, and total loss charges. This initiative is expected to enhance business cash flows, improve container turnaround efficiency, and reduce the cost of doing business. VCS has already shown success in Tanzania, freeing up significant working capital and boosting business competitiveness. SCEA members will benefit from discounted rates under this partnership, which promises to address longstanding logistical issues and promote economic growth in the East African region.
Kenya and India are in advanced talks for a loan facility of Sh32.2 billion (USD 250 million) to enhance trade Read more
Governor Johnson Sakaja recently distributed 1,000 title deeds in a ceremony held at Charter Hall. This event marks another significant Read more
Saudi Arabia's Crown Prince Mohammed bin Salman (MBS) made a strong statement on Wednesday, September 18, 2024, reaffirming that the Read more
Germany’s Economics Minister, Robert Habeck, has called for a political resolution between the European Union (EU) and China. His remarks Read more
Russian President Vladimir Putin has signed a decree extending the country's food embargo on imports from Western nations for an Read more
The Tourism Fund is under fire for accumulating Sh3.4 billion in interest penalties due to delayed payments in the construction Read more