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Withholding tax on demurrage charges will hurt Mombasa port

Mombasa port, which has been in operation since the 18th century, has grown over time and contributes more than 40 per cent of Kenya’s annual revenues

Withholding tax on demurrage charges will hurt Mombasa port
07 August 2018 - 10:14

Mombasa port, which has been in operation since the 18th century, has grown over time and contributes more than 40 per cent of Kenya’s annual revenues. Being one of the largest ports in Africa, the port serves Kenya and landlocked countries including Uganda, Rwanda, Burundi, South Sudan and the DRC. Sea ports are gateways for 80 per cent of trade cargo. Currently, Kenya, Tanzania and Djibouti are competing to be the region’s transportation and trade hubs. Djibouti poses less of a threat because of Mombasa’s larger hinterland and operational efficiencies, not to mention the possible diversion of Ethiopian traffic to Eritrea. These nations continue to pump in huge investments to further develop and modernise the available supporting infrastructure. Mombasa port is the largest in East Africa, with capacity to handle up to 500,000 TEUs. However, the port’s volumes exceed the throughput capacity by a factor of more than two

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