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The efforts to curb the spread of the COVID 19 pandemic have not brought back business to Stanbic Bank at the port of Mombasa to its normal level.
The Bank’s Chief Risk Officer Edwin Mucai said the banking logistics and clients’ businesses have been affected due to the outbreak out of the pandemic.
He said there is lower trade activity in Eastern Africa despite having worked closely with their clients.
“Our clients used to have four kilometers of uncleared containers for six months at the port of Mombasa,” he pointed out.
Mucai said they regret that due to movement of containers the charges have gone up from 1400 dollars to 7200 dollars.He spoke during the award ceremony at the end of the Bank’s one day golf tournament held at Nyali golf and country club in Mombasa county.
The Bank Chief Risk Officer said the focus of business opportunities is now in North America and the western world.
Mucai pointed out the move has affected the banking institution’s clients who are mainly in the transport industry who have been moving containers across the region from the port of Mombasa.
He further pointed out that there has been a reduction of transportation of containers by road from the port.
“I am not saying KPA is an obstacle but that business at the port has gone down,” he pointed out.
The bank officer said the business of most transporters who have been their clients in Mombasa county has gone down.
He announced the bank has signed a memorandum of understanding [MOU] with Mombasa county government in support of small and medium-sized enterprises [MSE] business on doing business digitally.
“The bank will support them and train them in digital skills and on how to conduct business on facebook and instagram among other platforms,” he pointed out