In a significant financial achievement, a substantial revenue of Sh18.2 billion was reported by the Standard Gauge Railway (SGR) as of June 30, 2023, reflecting a remarkable 21.2% increase. This surge in revenue can be attributed to the notable growth in cargo haulage and passenger traffic during the assessed period.
Comparatively, revenues totaling Sh12.7 billion were generated by SGR in 2022, marking a four percent increase from the Sh12.2 billion earned in 2021. The growth in cargo haulage during this period was notable, with a 12.6% rise in cargo volume transported via the new line, increasing from 5,407,000 tonnes in 2021 to 6,090,000 tonnes in 2022.
This growth was highlighted in the Economic Survey Report 2023 by the Kenya National Bureau of Statistics, noting that it occurred despite a 1.9% reduction in container traffic through the Port of Mombasa, primarily attributed to a decline in the import of dry bulk cargo.
An upswing in passenger numbers on the SGR was also experienced, with 2.52 million recorded in the last financial year, up from 2.35 million in the previous year. Freight haulage via SGR saw a significant rise to 6.29 million tonnes, up from 5.66 million tonnes in the year ending June 2022.
This demand surge was attributed to the reliability, quality of service, and convenience offered by the SGR, as noted by the Kenya Railways Corporation. Notably, the Corporation gradually assumed SGR operations from the Africa Star Railway Operation Company starting in 2021. The train service itself was inaugurated by retired President Uhuru Kenyatta in 2017.