DP World and GulfCap Africa Formalize Investment in Mombasa Industrial Park

DP World and Kenya-based GulfCap Africa have taken another step in the development of the Mombasa Industrial Park, signing a Shareholders' Agreement that formalizes the joint venture behind the planned 222-hectare Special Economic Zone (SEZ).

The agreement, signed in Nairobi in the presence of William Samoei Ruto, President of the Republic of Kenya, consolidates the alliance announced by DP World and GulfCap Africa in early August and advances development plans.

During the signing ceremony, President William Samoei Ruto stated that "today we take a significant step towards Kenya's future economy. The tripartite agreement between DP World, the Mombasa Government, and GulfCap demonstrates what is possible when the government creates the right environment for business. The government will support this industrial ambition with the necessary infrastructure to make it competitive. Our goal is to reduce the cost of production so that products manufactured in Kenya can successfully compete in the region and in the global market."

Essa Kazim, Group Chairman of DP World, added that "Kenya is a strategically important market for DP World, and this agreement reflects our confidence in its long-term growth. Our investment in the Mombasa Industrial Park aims to create the infrastructure that will drive trade, attract new industries, and connect Kenyan businesses more efficiently with markets in Africa and the rest of the world. Together with GulfCap Africa, we are transforming ambition into reality. The opportunity is not simply to build an industrial park, but to create a platform for investment, manufacturing, and trade that will generate lasting economic value for Kenya and the wider region."

The first phase of the SEZ will cover 40 hectares, and 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.

This development is also expected to generate opportunities for Kenyan suppliers and service providers, including small and medium-sized enterprises (SMEs), and to support the integration of Kenyan businesses into regional and global supply chains. Companies operating within the park will 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.