The Standard Gauge Railway (SGR) accumulated revenues of KES18.2 billion by the conclusion of the last fiscal year, indicating a 21.2% rise in revenues as of June 30, 2023. This growth was driven by heightened cargo haulage and passenger traffic during the reviewed period.
In 2022, the Standard Gauge Railway (SGR) recorded revenues amounting to KES12.7 billion, reflecting a 4% increase compared to the KES12.2 billion generated in 2021.
The rise in cargo transport during this period can be attributed to the expansion in cargo volume transported through the new rail line. The volume increased from 5,407,000 tonnes in 2021 to 6,090,000 tonnes in 2022, marking a significant 12.6% growth.
Despite a 1.9% decrease in container traffic at the Port of Mombasa, as reported in the Economic Survey Report 2023 by the Kenya National Bureau of Statistics (KNBS), from 34,661,000 to 33,880,000 tonnes in 2022, the increase in SGR cargo transport indicates resilience. The reduction in container traffic is primarily linked to a decline in the import of dry bulk cargo.
In the last fiscal year, the number of passengers utilizing the SGR increased to 2.52 million, up from 2.35 million in the preceding year. Additionally, freight haulage via the SGR experienced a substantial increase, reaching 6.29 million tonnes compared to 5.66 million tonnes in the year ending June 2022.
Kenya Railways Corporation attributed this growth to the rising demand for the SGR service, citing factors such as reliability, quality of service, and convenience.
It’s noteworthy that Kenya Railways Corporation gradually assumed SGR operations from Africa Star Railway Operation Company, commencing the takeover process in 2021.
