Kenyan importers ordered to insure with local firms

Shipping and Maritime Affairs Principal Secretary Nancy Karigithu has directed all importers to insure their cargo with local insurance companies by January next year. PHOTO: COURTESY

Shipping and Maritime Affairs Principal Secretary Nancy Karigithu has directed all importers to insure their cargo with local insurance companies by January next year.

She said this would enable the country to earn over Sh25 billion annually, money that has been going to foreign insurance companies.

 "We will not sit back and watch as this colossal amount of foreign exchange, which rightfully belongs to Kenyan insurance companies, goes to foreigners," said the PS.