The Kenya Ports Authority (KPA) has reported a significant increase in income for fiscal year 2022/2023, totaling Ksh 60.98 billion. This result is consistent with the authority’s expected development trajectory, which aims to reach Ksh 65 billion by 2028.

“This milestone revenue growth showcases KPA’s resilience and operational excellence in the face of global economic challenges,” stated a spokesperson for the authority.

The financial report released on Monday highlighted a significant increase in total revenues, soaring from Ksh 51.36 billion in the previous year to Ksh 60.98 billion, marking an impressive rise of Ksh 9.62 billion. Moreover, KPA reported its highest-ever profit before tax, amounting to Ksh 16.65 billion, a substantial increase from Ksh 11.3 billion in 2022.

Transport Cabinet Secretary Kipchumba Murkomen emphasized the authority’s strategic vision for growth, stating, “The total throughput is projected to increase from 33.62 million tonnes in 2020/2021 to 37.7 million tonnes by 2028.”

The Port of Mombasa, a key driver behind this success, witnessed a notable 6.2% surge in cargo shipments, handling a total of 35.98 million metric tons in 2023. Containerized cargo played a pivotal role, accounting for 50.4% of all cargo handled, with a remarkable 14.8% increase.

KPA’s enhanced operational efficiency, including improved ship turnaround times and increased gross moves per hour, reflects recent investments in equipment and infrastructure. With assets totaling Ksh 346 billion, KPA stands as the fourth largest state corporation in net assets, underscoring its significant impact on Kenya’s economy.