The Kenyan Principal Secretary for Shipping and Maritime Affairs spokeaboutwhy cargo shippers are now required to buy insurance for their imported goods locally
What instigated the directive that all cargo shipped through the port of Mombasa must be insured locally starting January? An analysis of trade statistics revealed that poor international trading habits and practices by Kenyan shippers were leading to the loss of millions of dollars in marine insurance premiums paid abroad in contravention to local laws and to the great disadvantage of Kenya’s economy.
