PRESSR: ADQ establishes finance and investment framework agreement worth up to USD 500mln

First published: 25-Apr-2024 07:51:38

Abu Dhabi, UAE: ADQ, an Abu Dhabi-based investment and holding company, today agreed to establish a finance and investment framework with the National Treasury and Economic Planning Ministry of the Republic of Kenya to explore intended investments of up to USD 500 million in priority sectors of the East African country's highly diversified economy.

The agreement aims to explore and leverage investment opportunities in Kenya to promote the growth and development of its national economy, which is the largest in the East Africa region and is projected to achieve growth between 5 and 6 percent in 2024. Earlier this year, the two countries concluded a Comprehensive Economic Partnership Agreement (CEPA) that will enable the trading partners to capitalize on mutual opportunities in sectors including food production, mining, technology and logistics.

His Excellency Mohamed Hassan Alsuwaidi, Managing Director and Chief Executive Officer of ADQ, said: “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. 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 and was one of the first African countries with which the UAE initiated bilateral trade deal talks in 2022. In 2023, non-oil trade between the UAE and Kenya rose by 26.4 percent year on year to USD 3.1 billion. 

Amin Nasro 

Associate

fgs global

Abu Dhabi | Dubai | Riyadh       

E: Amin.Nasro@fgsglobal.com

26th Floor, Office 2604

Tower-B, Business Central Towers

© Press Release 2024

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.