ADQ, an Abu Dhabi-based investment and holding company has agreed to establish a finance and investment framework with the National Treasury and Economic Planning Ministry of the Republic of Kenya.
The partnership aims to explore intended investments of up to $500 million in priority sectors of the East African country’s highly diversified economy.
Earlier this year, the two countries concluded a Comprehensive Economic Partnership Agreement (CEPA), targetting key sectors like logistics, healthcare, tourism, infrastructure, and ICT, facilitating SME cooperation and growth.
“This agreement not only strengthens the robust economic ties between the UAE and Kenya but also underscores ADQ’s commitment to developing partnerships in key markets that complement our investment strategy, allowing other nations to benefit from the considerable and diverse expertise within our portfolio,” said Mohamed Hassan Alsuwaidi, Managing Director and Chief Executive Officer of ADQ.
“We are confident that our investment will bring forth notable opportunities that will unlock tangible value and contribute to the economic growth of Kenya and the broader East African region, harnessing its vast potential for development.”
Kenya is among East Africa’s most dynamic economies. In 2023, non-oil trade between the UAE and Kenya rose by 26.4% year-on-year to $3.1 billion.
ADQ’s expansive portfolio of infrastructure assets encompasses key economic sectors, including transport and logistics, energy and utilities, and real estate. Earlier this week, the company announced it had acquired a 49% stake in Plenary Group (Plenary), an independent investor, developer and manager of public-private infrastructure projects headquartered in Australia.
