Ports authority hands over Sh18.7 billion to Treasury : The Standard

The Kenya Ports Authority (KPA) has paid Sh18.7 billion as special dividends to the National Treasury. A statement from KPA said the money was wired to the Exchequer on Friday. “KPA was not only able to pay its main shareholder a return on investment but it was also the highest contributor among parastatals,” said KPA Managing Director Daniel Manduku. Mr Manduku said the agency paid Sh18 billion in savings and Sh700 million as accrued interest from Treasury bills.

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KPA also handed in a cheque of Sh6 billion corporate tax to the Kenya Revenue Authority. “The surplus cash can be attributed to prudent financial management and savings. We will endeavour to support the State in meeting its obligation to the people of Kenya while at the same time ensure world class port services,” said the KPA boss. KPA profits have been on an upward trajectory with figures released indicating that they hit Sh17.5 billion in the first nine months of 2018/2019 compared to Sh10.6 billion in 2017/2018.

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Cargo throughput at the Port of Mombasa has also maintained stable growth while the transshipment trade recorded an average of 137 per cent growth. Transshipment traffic grew from 791,257 tonnes between January and September last year to 1,873,772 tonnes in the corresponding period this year.

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Statistics from KPA show the port’s combined nine-month throughput rose by about nine per cent compared to the same period last year.

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Kenya Ports AuthorityNational TreasuryKPA