UAE investors eye Kenyan trade deals

Sharjah UAE
The city of Sharjah in the United Arab Emirates. PHOTO/

A United Arab Emirates (UAE) trade delegation led by the chairman of the Sharjah Chamber of Commerce and Industry (SCCI), Abdullah Sultan Al Owais, has been in the country since Saturday (23/11/19), scouting for trade deals in Kenya’s manufacturing and industry sectors.

According to the Business Daily, the investors, consisting of various players in UAE’s trade scene, will conclude their business on Wednesday (27/11/19) after successfully identifying prospective business partners in the aforementioned local trade sectors.

The trade networking forum was organised by SCCI and the Kenya National Chamber of Commerce and Industry (KNCCI) and it  aims to forge stronger trade relations between Kenya and UAE.

“The delegation is composed of about 20 top companies from the United Arab Emirates. They will be in Kenya for about three days. Their mission started on November 25,” said SCCI Deputy Director General Abdelaziz Mohamed Shattaf told the Business Daily.

According to the news report by the local daily, the visit by SCCI is aimed at highlighting Sharjah’s position as an attractive business hub in the UAE drawing in potential investors in the process. Sharjah is UAE’s third largest and third most populated city.

Some of the UAE companies that have sent representatives to source for trade opportunities in Kenya are Alpha International Household Industries, EMAAR International, Faan Al Ibdaa Perfumes and Cosmetics and Etihad Credit Insurance.

According to the news report, the UAE-led trade delegation has inked a Memorandum of Understanding (MoU) with KNCCI establish a trade command center at the UAE. The base will advise and guide SMEs interested in partnering with firms in the UAE. The lobby did however disclose if any of the companies had committed to invest in Kenya.

Once the UAE delegation concludes its business in Kenya tomorrow it will make its way to Uganda to hold a similar conference with business players in the neighbouring East Africa country.

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