Browsing: International Transport Workers’ Federation (ITF)

Kenya is going big on tapping the billions in the blue economy if the latest developments by government, in partnership with the private sector, are anything to go by. The government has entered into a partnership with global logistics firm―Mediterranean Shipping Company (MSC), to revive the defunct Kenya National Shipping Line (KNSL). The government has also invested in a maritime academy- Bandari Maritime Academy. It is also keen to invest in the fishing sector and project its waters using the Kenya Coast Guard Service.

Six months after hosting the first global conference on ‘Sustainable Blue Economy’, Kenya is keen to invest in international shipping, as it remains focused on tapping its maritime resources for economic growth.

The government has set-off a number of initiatives that could see the country reap big from the maritime industry, which drives 92 per cent of its international trade.

Policies, institutional changes, incentives and funding are being put in place to optimize gains in the sector, which has the potential to contribute up to Ksh500 billion (US$4.9 billion) to the GDP annually.

READ:Kenya’s Maritime Transport Policy takes shape

Shipping industry 

Top on the list is the revival of the Kenya National Shipping Line (KNSL) which has been dormant for the last 22 years, after mismanagement sent it into debt and loss of business in an untapped Ksh304 billion(US$2.9 billion) business potential—an amount Kenyan importers pay as freight charges …