Sunday, December 22, 2024

SGR reports Sh. 144 million revenue drop as passenger numbers decline

SGR reports Sh. 144 million revenue drop as passenger numbers decline

According to data from the Kenya National Bureau of Statistics up to September, the Standard Gauge Railway (SGR) has recorded a notable decrease in passenger volumes several times this year.

The Kenya National Bureau of Statistics (KNBS) released its Leading Economic Indicators report on November 15th, showing a decline of 105,782 passengers on the Standard Gauge Railway (SGR). In August, SGR recorded 281,683 passengers, but the number fell to 175,901 in September.

The drop of over 100,000 passengers caused the SGR to lose Sh. 144 million in revenue, decreasing from Sh. 440.6 million in August to Sh. 296.4 million in September 2024.

Co-Op center

The number of passengers using the SGR between January and September this year dropped by 171,803 compared to the same period last year.

In 2024, July was the best-performing month for the state-owned railway service, followed closely by January. This was attributed to travellers appreciating the train’s reliability, convenience, and affordability.

Some passengers also preferred the SGR for its ability to transport heavy loads at high speeds compared to the Meter Gauge Railway. However, February, April, May and September recorded the lowest passenger numbers, negatively impacting overall performance.

Kenya Airways CEO Allan Kilavuka appointed the new Africa’s airlines association (AFRAA) chairperson

Despite the decline in passenger numbers, the revenue increased by Sh. 770 million between January and September this year compared to the same period last year. This growth is attributed to the government raising ticket prices earlier this year.

April, July, and August recorded the highest revenue at Sh. 385.3 million, Sh. 319.1 million, and Sh. 440.6 million, respectively. In contrast, February and May saw the lowest revenue collections.

Co-Op post

The volume of cargo transported via the SGR dropped from 582,000 metric tons in August to 512,500 metric tons in September. However, revenue from cargo transport slightly increased to Sh. 1.2 billion during this period.

Did you love the story? You can also share YOUR story and get it published on Bizna Click here to get started.

Connect With Us

675,749FansLike
6,875FollowersFollow
8,930FollowersFollow
2,160SubscribersSubscribe

Latest

Related

-->
error: Content is protected !!