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Swissport to Invest Tanzania Sh6 Billion

Swissport to Invest Tanzania Sh6 Billion

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Dar es Salaam — Swissport Tanzania plans to invest Sh6.2 billion in equipment and training this year.

It will do so despite a drop in cargo revenue in 2016 due to unfavourable economic conditions, the company's chief executive officer, Mr Mrisho Yassin, told BusinessWeek.

It will spend Sh4 billion and Sh800 million on purchasing new equipment and training respectively.

Some Sh650 million will be used to improve the company's export perishable facility, according to its 2016 financial statement.

Mr Mrisho Yassin said the investment would improve efficiency.

Swissport Tanzania's cargo revenue fell to Sh20.1 billion last year from Sh22 billion the previous year.

That happened because the cargo volume decreased.

According to Mr Yassin, the company handled 20,145 tonnes of cargo last year, down from 24,874 tonnes in 2015. "Investment in modern equipment and training remains our top priority. Our strategies, alliances with customers and our dedicated team will steer the company to success."

However, he said the company would continue to feel the pinch of changes in fiscal policies.

The company expects cargo volume to stagnate this year and fall to 16,000- 17,000 tonnes next year.

"This is not impressive at all. Our capacity is to handle 80,000 tonnes," noted Mr Yassin.

However, he said the company maintained its market share of more than 90 per cent. "We were not caught by surprise in 2016 when a new ground handler entered the market. Our investment in equipment is heavy and we haven't been affected by competition."

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