French shipping and logistics giant CMA CGM is set to invest 700 million euros (Ksh106 billion) to modernise and expand terminals at the Port of Mombasa under a new agreement signed with the Kenyan government.
The investment deal was announced on Monday, May 11, during the ongoing Africa Forward Summit held in Nairobi in the presence of President William Ruto and French President Emmanuel Macron.
The project will focus on renovating and upgrading two terminals at the Port of Mombasa as part of efforts to strengthen Kenya’s transport and logistics infrastructure.
CMA CGM said the partnership is aimed at expanding port capacity, modernising freight management systems and improving inland logistics networks linking Kenya to the wider East and Central African region.
