Abu Dhabi, UAE – April 24, 2024 – The United Arab Emirates (UAE) and Kenya have signed a significant agreement to bolster collaboration in their mining and technology sectors. The Memorandum of Understanding (MoU), signed by the UAE Ministry of Investment and Kenya’s Ministry of Finance and National Treasury, paves the way for joint ventures and investments that will unlock the potential of both nations’ economies.
Kenya’s vast mineral reserves, including gold, copper, and tantalum, hold immense potential for growth. The partnership aims to develop this sector responsibly, creating jobs, boosting livelihoods, and solidifying Kenya’s position as a major mining player in Africa.
This agreement goes beyond just resource extraction. Technology transfer is a key focus, with the aim of fostering innovation and propelling Kenya’s mining sector forward. Equally important is the commitment to sustainable practices. The UAE and Kenya will work together to ensure responsible stewardship of mineral resources, prioritizing environmental and social considerations alongside economic gains. Research and development will also be on the agenda, with both countries exploring avenues for collaboration in these crucial areas.
“This MoU marks a turning point in the economic relationship between the UAE and Kenya,” said Mohamed Hassan Alsuwaidi, UAE Minister of Investment. “We are building a future grounded in sustainability, innovation, and responsible management of resources. By leveraging technology and establishing strong governance practices, we can not only propel the mining sector but also achieve shared prosperity for our nations.”