France, Kenya Sign Ksh106 Billion Maritime Project For Ports Expansion
French shipping and logistics giant CMA CGM is set to invest 700 million euros (Ksh106 billion) to modernise and expand terminals at the Port of Mombasa under a new agreement signed with the Kenyan government.
The investment deal was announced on Monday, May 11, during the ongoing Africa Forward Summit held in Nairobi in the presence of President William Ruto and French President Emmanuel Macron.
The project will focus on renovating and upgrading two terminals at the Port of Mombasa as part of efforts to strengthen Kenya’s transport and logistics infrastructure.
CMA CGM said the partnership is aimed at expanding port capacity, modernising freight management systems and improving inland logistics networks linking Kenya to the wider East and Central African region.
Unpacking Ksh 150 B France Funding:
— Citizen TV Kenya (@citizentvkenya) May 11, 2026
Deal includes Ksh 104B expansion of the Mombasa port
Other projects include funding for a nuclear energy initiative
Funding covers agriculture, manufacturing and pharmaceuticals #CitizenMondayReport pic.twitter.com/l8lEqZ6KT8
The investment is expected to increase cargo-handling capacity, strengthen regional trade corridors and enhance Kenya’s connectivity to global shipping markets amid rising demand for maritime transport across the region.
The company said the expansion will support growing trade volumes while improving supply chain efficiency and positioning Mombasa as a stronger regional trade hub connecting local, regional and international markets.
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The investment is expected to provide a major boost to the government’s efforts to modernise port facilities along the Kenyan coast.
Répartition claire :
— Choupa-Choups 🇫🇷 (@Oryon3011) May 11, 2026
• CMA CGM (Rodolphe Saadé) : ~700 millions d’euros pour les terminaux du port de Mombasa. C’est un investissement privé du groupe (fonds propres + financements bancaires privés). Pas de subvention publique directe. https://t.co/QSLUJGWEIp
• Meridiam… https://t.co/BuDdI7LMGK
In April 2025, the National Treasury said it was pursuing a Public-Private Partnership (PPP) model to upgrade the ports of Mombasa and Lamu in response to rising cargo volumes at the two key harbours.
To finance the upgrades, Kenya had planned to issue infrastructure bonds targeting long-term investors such as pension funds and insurance firms to support the port modernisation programme.
Earlier government plans indicated that the expansion would include upgrading the container terminal at the Port of Mombasa and dredging the seabed to allow larger vessels to dock.
Mombasa hosts East Africa’s largest harbour and serves several landlocked countries, including Uganda, Rwanda, South Sudan and the Democratic Republic of Congo (DRC).
France, Kenya Sign Ksh106 Billion Maritime Project For Ports Expansion
