DP World and GulfCap Africa formalize Mombasa Industrial Park joint venture

DP World and Kenya-based GulfCap Africa have signed a Shareholders Agreement to formalize a joint venture for the development of the Mombasa Industrial Park. Located in Jomvu, the planned 222-hectare Special Economic Zone (SEZ) aims to attract foreign direct investment and expand local manufacturing capacity.

The project, which received support from the Mombasa County Government, is expected to create more than 20,000 direct and indirect jobs upon completion. The first phase of the development will cover 40 hectares. More than 60 local and international companies have already expressed interest in the zone.

Kenyan President William Samoei Ruto attended the signing ceremony in Nairobi, framing the initiative as a critical step toward diversifying the national economy and reducing dependence on raw material exports. The park is intended to leverage Kenya’s trade access through the African Continental Free Trade Area (AfCFTA), the EU Economic Partnership Agreement, and the UAE Comprehensive Economic Partnership Agreement.