Booming business lifts KPA's May earnings to Sh62b
Business
By
Patrick Beja
| Jun 17, 2024
The port of Mombasa has registered increased business, boosting its financial performance, the Kenya Ports Authority (KPA) has said.
KPA management noted that the port recorded a revenue of Sh61.8 billion in May 2024, against a full-year budget of Sh54.7 billion.
KPA Managing Director William Ruto noted that the overall enhancements at the authority have increased business and improved general performance contributing to the growth of the economy.
"By the end of March 2024, our revenue had surpassed the full-year budget. This upward trend has seen us record revenue of Sh61.8 billion in May against a full-year budget of Sh54.7 billion, representing a 13 per cent positive variance," he said.
READ MORE
Kenya Simbas humble Uganda to keep World Cup dreams alive
Where feeding programme gives hope to the elderly
Will Simbas roar louder as World Cup qualifiers begin in Uganda?
Kipchumba Murkomen wants to revive harsh 17th-century British law
Kenya grants visa free entry for CHAN
Counties free to use local materials under new building code
Crushing defiance and ignoring graft sends the wrong message
EU to unveil long-delayed 2040 climate target
Nursing courses top demand as KUCCPS places 310,502 students
From dorm fires to street protests; how a decade of school unrest shaped youth dissent
He was speaking during a media engagement at the weekend, accompanied by KPA board chairman Benjamin Tayari and other officials.
On expenditure, Capt Ruto said KPA registered savings of four per cent as of May 30, 2024, with its absolute expenditure figure being Sh43.5 billion against a budget of Sh45.2 billion. "This financial performance mirrors improved efficiency and throughput at the port of Mombasa," he explained.
Tayari said KPA has continued to invest in port capacity expansion programmes and modern equipment acquisition. He said total container capacity at Mombasa port stands at 2.1 million twenty-foot equivalent units (TEUs) per year.
Last year, the port handled 35.98 million tonnes compared to 33.88 million tonnes handled in 2022.