Investors expect to reap big as Kisumu port opens
The business fraternity in Kisumu County is optimistic the Sh3 billion rehabilitation of Lake Victoria port will put it back on the map of maritime transport services and boost the economy of the region, hoping to reap fortunes in terms of improved trading when the port jump-starts its operations.
Kenya National Chamber of Commerce and Industry (KNCCI) county branch chairman Israel Agina said revitalisation of the port will be a major boost to the trade between East African Community (EAC) countries, especially Uganda, Tanzania, Rwanda and Burundi once it officially starts operations in the coming weeks.
He noted that revival of the port places the lakeside city at a vantage point in promotion of maritime transport across Lake Victoria.
The upgraded port, Agina said will open up areas surrounding the lake shores such as Kendu Bay, Homa Bay, Asembo Bay, Mbita and Mfangano, which will be directly served by the facility.
“We expect general merchandise trade to thrive between the EAC countries with the revamp of Kisumu port. Cargos will sail to Kisumu through the lake very fast,” he told Business Hub.
Business activities
He appealed to chamber membership to take advantage and plan for more business activities as the port gets ready for opening.
Benard Ojack, an M-Pesa and agency banking dealer, said traders are hoping to see increased business with the upgrading of the port.
Dr Nelson Obange, a lecturer at Maseno University department of economics, said revitalisation of the port will strengthen the regional economy as a result of improved trade and creation of employment opportunities.
He said exchange of goods between EAC countries will get a boost with the refurbishment of the port.
