Sharp Daily
No Result
View All Result
Sunday, September 14, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Kenya Building More Ships For Uganda Fuel To Expand Lake Victoria Trade

admin by admin
May 17, 2023
in News
Reading Time: 1 min read

Energy and Petroleum Cabinet Secretary David Chirchir has announced plans by the Kenyan government to build three more ships to ferry oil and oil products to Uganda through Lake Victoria. He said upon completion, the ships would allow for daily trips to and from Uganda, from the current weekly trips.

The ships are expected to use the oil jetty in Kisumu, a project which cost the taxpayer Ksh 2 Billion and has been heavily underutilized since its completion in 2018. The project is expected to ease pressure on other infrastructure, such as easing road congestion at border crossings, improving the reliability of the supply, and being cost-effective.

The three ships are expected to work in tandem with MV Uhuru II, Kenya’s first locally manufactured ship, which is expected to hit the waters in July, and increase Kenya’s haulage capacity through the lake corridor and allow for daily trips. MV Uhuru II is being constructed at a cost of Ksh 2.4 billion by Kenya Shipyards Limited partnering with Dutch company Damen Shipyards. According to the government, it is expected to save the taxpayer Ksh 1.3 billion on the cost of importing a new ship.

The manufacturing commitment is expected to be a boon for lakeside residents and offer employment for locals in the manufacturing sector. It is also expected to boost trade through Lake Victoria and grow the lakeside economy in line with the country’s Blue economy agenda.

RELATEDPOSTS

Uganda Central Bank hack confirmed, officials downplay $17 Million loss

November 29, 2024
Ugandan presidential candidate and singer Robert Kyagulanyi Ssentamu, known as Bobi Wine, is processed by electoral officials before casting his ballot in the presidential elections in Kampala, Uganda, January 14, 2021. REUTERS/Abubaker Lubowa

Uganda’s electoral commission announces 2026 election dates

August 1, 2024
Previous Post

King Charles’ Upcoming Visit To Kenya Could Reignite Efforts For Reparations

Next Post

The Sugar Scandal: Revealing Kenyan Authorities’ Negligence and the Urgent Need for Accountability

admin

admin

Related Posts

News

September snapshot: CMMF yields 13.12% as month unfolds

September 5, 2025
Private equity investment business concept
News

Private equity and insurance

September 4, 2025
News

Kick financial goals: Invest with CMMF this football season

August 22, 2025
commercial illustrator
News

Why Kenyan private equity firms should consider continuation funds as an exit strategy

July 23, 2025
Business

Del Monte foods files for bankruptcy in USA

July 3, 2025
News

Private vs Public Pension Funds in Kenya

June 30, 2025

LATEST STORIES

Real Estate project financing models shaping successful developments

September 12, 2025

Alternative investments: Opportunities and risks

September 12, 2025

Mid-September momentum: CMMF posts strong yields and growing trust

September 12, 2025

Unlocking Home Ownership Through Retirement Savings in Kenya

September 12, 2025

The role of FDIs in driving sustainable development

September 11, 2025

How increased oversight can clean up the insurance sector without stifling innovation

September 11, 2025

Why retail investors hold the key to Kenya’s capital market growth

September 11, 2025

Kenya’s new banking policies: A turning point for the financial sector

September 11, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024