New office eases Dubai tycoons entry into Nairobi

MK254 · 2016-10-05T20:23:18+00:00

Dubai businesses are set to get an easier entry into Kenya with the opening of the Dubai Chamber of Commerce and Industry representative office in Nairobi. Opening of the office was announced Tuesday at the start of a local tour by top officials of the chamber, Dubai’s businessmen and diplomats representing Kenya in the Emirate. “The office will facilitate investments into Kenya and the country’s trade with the Middle East,” said Rami Halawani, the marketing and corporate communication director at the chamber in an interview. The office is expected to provide members with market information, partner research, networking and business opportunities. Its establishment is expected to build on Dubai’s existing trade and investment ties with Kenya. Recent investments in Kenya by Dubai-based conglomerates include the acquisition of motor dealer CMC Holdings by Al Futtaim and the opening of several Carrefour retail stores by Majid Al Futtaim. Dubai’s private equity firm Investbridge Capital is set to build a chain of schools in Kenya and other African countries through a joint venture with Sabis education network and Centum Investment which is listed on the Nairobi Securities Exchange. The emirate’s real estate investors have also been marketing various property developments to Kenya’s high-net-worth individuals. Abu Dhabi, which forms part of the United Arab Emirates (UAE) alongside Dubai and other regions, is a major source of petroleum products shipped to Kenya on a monthly basis. Kenya also imports a range of consumer goods, including cars and spare parts from the UAE. The chamber said it wants to reinforce Dubai’s position as a gateway for global investments to and from Africa. The delegates from Dubai are meeting local entrepreneurs and government officials to get insights into the investment climate and business opportunities in the region, the chamber said. The organisation said Kenya is an attractive investment destination owing to its status as a commercial and logistics hub of East Africa. It also noted the country’s rising economic power with a population of about 45 million people providing a large internal market. Kenya:New office eases Dubai tycoons entry into Nairobi - Ghana Business News

Thread starter MK254
Start date Oct 5, 2016

MK254

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New office eases Dubai tycoons entry into Nairobi

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