New pact to unlock Sh4.5b tied up in cargo levies

Some of the uncollected containers at the port of Mombasa awaiting scanning before being allowed out of the port March 02, 2016. [FILE/Standard]

Several players in the multi-billion shipping logistics sector are hopeful that the introduction of letters of guarantee for containers as an alternative to cash deposits could spur the growth of businesses in the country, particularly small-scale operators.

Mombasa-based shipping expert Sylvester Kututa, described the entry of Viatrans and its Kenyan subsidiary Viaservice Kenya as a good step in the right direction, saying it is expected to reduce the cost of doing business as money will no longer be tied to container deposits.