UAE – Mubasher: The Ministry of Investment of the UAE has signed an investment memorandum of understanding (MoU) with Kenya’s Ministry of Finance and National Treasury for collaboration in the mining and technology sectors.
The MoU allow for collaboration in mineral exploration, mine development, mineral processing, refining, and mineral marketing in Kenya, according to the Emirates News Agency (WAM).
The agreement also aims to explore opportunities to transfer relevant technology to Kenya’s mineral sector to support its growth.
The two countries will explore collaborative efforts to promote responsible stewardship of the mineral sector, focusing on environmental, social, and governance practices.
They will also assess opportunities for joint research and development in designated sectors.
Mohamed Hassan Alsuwaidi, Minister of Investment of the UAE, said: “Through this partnership, we are laying down the foundation for a future where sustainable mining practices, innovation, and responsible stewardship form the pillars of our mutual growth.”
“We are committed to leveraging technology to enhance capacities and establish robust governance practices that will not only propel the mineral sector but also ensure overall prosperity of our nations,” Alsuwaidi added.
Furthermore, Abu Dhabi-based holding company ADQ has unveiled a finance framework agreement with Kenya's finance ministry, enabling investments in key sectors of the Kenyan economy, potentially totalling up to $500 million.
