Abu dhabi: DP World and Kenya-based GulfCap Africa have signed an agreement for the development of the Mombasa Industrial Park, a 222-hectare Special Economic Zone (SEZ). The signing took place in the presence of Dr. William Samoei Ruto, President of the Republic of Kenya.
According to Emirates News Agency, this agreement builds on the partnership announced by DP World and GulfCap Africa in early August. It advances the plans for development and solidifies DP World's intention to expand investments in Kenya by developing comprehensive industrial and logistics infrastructure to drive trade and investments in East Africa.
The first phase of the SEZ will cover 40 hectares. The full development is designed to attract foreign direct investment, expand local manufacturing capacity, and strengthen connections between Kenyan businesses and regional and international markets. More than 60 local and international companies have already expressed interest in taking up space in the SEZ. The development is expected to support more than 20,000 direct and indirect jobs upon completion.
The development is anticipated to create opportunities for Kenyan suppliers and service providers, including small and medium-sized enterprises (SMEs). It aims to support their integration into regional and global supply chains. Businesses operating within the park will be positioned to benefit from Kenya's access to key markets through the African Continental Free Trade Area (AfCFTA), its Economic Partnership Agreement with the European Union, and the Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates.
President William Samoei Ruto emphasized the importance of this development for Kenya's future economy, stating that the agreement demonstrates the potential when the government creates a conducive environment for business. He affirmed the government's support for this industrial ambition by providing the necessary infrastructure to ensure competitiveness and reduce production costs, allowing Kenyan goods to compete successfully in regional and global markets.
Essa Kazim, Group Chairman of DP World, highlighted Kenya's strategic importance to DP World. He noted that the investment in the Mombasa Industrial Park aims to create infrastructure that enables trade, attracts new industries, and connects Kenyan businesses with markets across Africa and the world. He expressed confidence in moving from ambition to delivery in partnership with GulfCap Africa.
Mohammed Akoojee, CEO and Managing Director for Africa at DP World, stated that the agreement marks a crucial step in the development of the Mombasa Industrial Park and underscores DP World's long-term commitment to Kenya. He emphasized the goal of bringing industrial capacity and logistics infrastructure closer together to help businesses access markets more efficiently and attract new investment and manufacturing to the country.
Suleiman Shahbal, Founder of GulfCap Africa, expressed that their partnership with DP World represents a new chapter for industrial development in Mombasa. He noted that the Mombasa Industrial Park is designed to create an environment where infrastructure, logistics, and investment can converge to support business growth. Upon completion, the socio-economic impact of the park is expected to be significant, with over 20,000 jobs created directly and indirectly, positively affecting thousands of Kenyans.