Kenya has plans to revive its state-owned shipping line.
An agreement signed between the government and the Mediterranean Shipping Company will enable the Kenya National Shipping Line (KNSL) to participate in international seaborne trade again, Bloomberg reports.
Established in 1987, the KNSL became inactive after years of management challenges. Now jointly owned by the East African state and three foreign shareholders, President Uhuru Kenyatta says the government proposes to give the shipping line the sole mandate to handle government cargo.
‘We are very keen to revive the shipping line. And we are confident that we can run the shipping line again,’ APA News reported Kenyatta saying after he signed the agreement with MSC’s first VP Giovanni Cuomo in Nairobi.
‘[The KNSL is] expected to once again become an active participant in international seaborne trade, which accounts for a significant percentage of Kenya’s total trade.’
