DP World, GulfCap sign Mombasa Industrial Park deal

DP World and GulfCap Africa have signed a Shareholders Agreement to advance the development of the Mombasa Industrial Park in Kenya, with the agreement signed in Nairobi in the presence of Kenyan President William Samoei Ruto including Essa Kazim, Group Chairman of DP World, Mohammed Akoojee, CEO and Managing Director, Africa, DP World, Suleiman Shahbal, Founder of GulfCap Africa.

The planned industrial park will span 222 hectares and operate as a Special Economic Zone (SEZ), with the first phase covering 40 hectares. Located less than 20 kilometres from the Port of Mombasa, the project aims to bring industrial activity, logistics and market access closer together while supporting job creation in Kenya.

DP World said the development is intended to provide businesses with an integrated environment to invest, manufacture and distribute goods, while improving access to regional and international markets.

Kenya is a key market for DP World and an important gateway for trade across East Africa. The partnership with GulfCap Africa is expected to support the country's industrial and logistics development while strengthening connectivity through the Port of Mombasa.

The first phase of the SEZ will span 40 hectares, while the broader development is aimed at attracting foreign direct investment, boosting local manufacturing capacity and strengthening links between Kenyan businesses and regional and international markets.

More than 60 local and international companies have already expressed interest in establishing operations within the SEZ. Once fully developed, the project is expected to generate more than 20,000 direct and indirect jobs.

The development is also expected to create opportunities for Kenyan suppliers and service providers, particularly small and medium-sized enterprises (SMEs), while supporting the integration of local companies into regional and global supply chains.

Businesses operating from the park will also be able to leverage Kenya’s preferential access to key markets through the African Continental Free Trade Area (AfCFTA), the Economic Partnership Agreement with the European Union and the Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates.

Speaking at the signing ceremony, William Samoei Ruto, President of the Republic of Kenya, said: “Today we are taking an important step towards Kenya’s future economy. The tripartite agreement between DP World, the County Government of Mombasa and GulfCap demonstrates what is possible when government creates the right environment for business. Government will support this industrial ambition with the infrastructure required to make it competitive. Our objective is to lower the cost of production so that goods made in Kenya can compete successfully in the region and the global market.”

"Kenya is a market of strategic importance to DP World and this agreement reflects our confidence in its long-term growth. Our investment in the Mombasa Industrial Park is about creating the infrastructure that enables trade, attracts new industries and connects Kenyan businesses more efficiently with markets across Africa and the world. Together with GulfCap Africa, we are moving from ambition to delivery. The opportunity is not simply to build an industrial park, but to create a platform for investment, manufacturing and trade that can generate lasting economic value for Kenya and the wider region,” said Essa Kazim, Group Chairman of DP World.