Kenya joins Dar in ending cargo container cash deposits, easing trade flow

Cargo containers being offloaded from a vessel at the Port of Mombasa in Kenya on March 6, 2024.

Photo credit: File | Nation Media Group

Kenya and Tanzania have begun implementing a container guarantee service, effectively ending the long-standing requirement for cash deposit guarantees.

This move comes more than nine years after the Northern Corridor Integration Project Heads of State Summit recommended alternative ways to secure containers.