UAE-based company ADQ signs USD 500 million deal with Kenya
The settlement entails a considerable funding of as much as US$ 500 million in varied pivotal initiatives throughout Kenya’s various financial system.
The partnership marks a milestone within the relationship between Kenya and the UAE, as each nations purpose to deepen bilateral commerce and funding ties.
Notably, Kenya emerged as one of many first African international locations to have interaction in bilateral commerce negotiations with the UAE again in 2022, setting the stage for expanded financial cooperation.
Mohamed Hassan Alsuwaidi, Managing Director and CEO of ADQ, underscored the importance of the most recent deal, emphasising its position in fortifying the strong financial bonds between the 2 states.
Alsuwaidi highlighted the broader implications of the settlement, stating, “This settlement not solely strengthens the strong financial ties between the UAE and Kenya but in addition underscores ADQ’s dedication to creating partnerships in key markets that complement our funding technique.”
The funding framework established by means of this deal will facilitate ADQ’s exploration of potential investments in precedence sectors of Kenya’s financial system.
These sectors embody meals manufacturing, mining, know-how, and logistics. The partnership aligns with Kenya’s strategic imaginative and prescient for financial growth and diversification, providing vital development alternatives for each nations.
The Complete Financial Partnership Settlement (CEPA) signed between Kenya and the UAE in early 2024 laid the groundwork for enhanced commerce collaboration throughout varied sectors.
ADQ, headquartered in Abu Dhabi, is remitted to drive the transformation of the Emirate right into a knowledge-based financial system.
The funding and holding firm specialises in figuring out compelling alternatives throughout financial clusters, together with Vitality & Utilities, Meals & Agriculture, Healthcare & Life Sciences, and Transport & Logistics.
With its in depth experience and various portfolio, ADQ goals to unlock tangible worth and contribute to the financial development of Kenya and the broader East African area.