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Kenya marine business is set for a major boost following the launch of a new deep-sea fishing vessel that is expected to substantially raise harvests and put Mombasa firmer on the global fisheries map. The KCB Foundation in partnership with the County Government of Mombasa today launched the vessel, the first ever locally owned facility of its kind. The vessel, christened MV Mombasa 001, was locally constructed at a cost of Sh15 million and is expected to increase fish harvest in the county to over 40,000 kg per month. "This is a game-changer for Kenya's marine business. Kenya's marine fisheries sector remains artisanal and subsistence due to the lack of large, fully equipped fishing vessels," said General (Rtd) Joseph Kibwana, Board Director at the KCB Group. KCB Bank, through its social investment arm, the KCB Foundation (under the Mifugo Ni Mali programme) financed the acquisition of the vessel following a zero per cent interest rate loan of Sh30 million extended to the County Government of Mombasa."Investing in Kenya's marine sector is strategic to economic growth," said Kibwana.
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