A French firm will invest $820m in Mombasa Port upgrade

Habari Huru's investigation confirms the claim that a French firm will invest $820 million in the Mombasa Port upgrade. Multiple reports, including one from the Daily Nation, corroborate this significant financial commitment. The French firm in question is identified as CMA CGM, a major player in global shipping, which has maintained a presence in Kenya since 2005. The investment, valued at approximately Sh105 billion, as cited by the Daily Nation, directly corresponds to the $820 million figure mentioned in other reports, considering prevailing exchange rates. CMA CGM has publicly stated that the primary objectives of this substantial investment are to augment cargo-handling capacity at Mombasa Port, bolster regional trade corridors, and improve Kenya's integration into global shipping networks. This strategic move is reportedly in response to increasing maritime demand, indicating a forward-looking approach to the port's development. The investment aims to enhance the port's operational efficiency and throughput, which will have a direct impact on its ability to manage larger volumes of goods. By strengthening regional trade corridors, the firm intends to facilitate smoother and more efficient movement of cargo to and from landlocked countries that rely on Mombasa Port as a crucial gateway. Furthermore, the upgraded infrastructure and enhanced connectivity are expected to