Coast seeks new income as SGR takes over cargo

The Kenya Ports Authority's Inland Container Depot in Embakasi, Nairobi. [Elvis Ogina, Standard]

MOMBASA, KENYA: Businessmen in Mombasa and other coastal counties are seeking alternative incomes streams following the massive loss of business to the Standard Gauge Railway. According to reports, the region’s economy will experience a decline of at least Sh40 billion in revenues this year.

And there are new fears that the future of the region could be bleaker following proposals by the National Treasury to abolish tax exemptions on hotels and other hospitality ventures in the June national budget.