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The shareholders agreement formalising a joint venture between DP World and GulfCap Africa for the Mombasa Industrial Park was signed at State House in Nairobi on September 8 2026 with Kenyan President William Ruto in attendance according to the Emirates News Agency. The deal advances a special economic zone project in Jomvu that builds on an initial partnership announced in early August and involves the Mombasa County Government. DP World as a global ports and logistics operator brings international expertise while GulfCap Africa contributes local development capabilities to the initiative.
The project will occupy 535 acres or approximately 222 hectares of land previously used as a cattle staging ground by the Kenya Meat Commission with the first phase covering 40 hectares. It is located less than 20 kilometres from the Port of Mombasa positioning the zone to serve as an integrated hub for manufacturing logistics and exports across East Africa. More than 60 local and international companies have already expressed interest in the development according to project partners.
The completed industrial park is projected to create more than 20 000 direct and indirect jobs while the first phase is expected to attract over 100 million dollars in investment GulfCap Africa said. Some assessments place direct employment from initial operations at nearly 8 000 positions with additional opportunities emerging for traders transport operators and service providers in the surrounding area. The zone aims to transform Mombasa’s economic landscape by shifting focus toward production and export activities that leverage the port’s strategic position.
Mohammed Akoojee the CEO and managing director for Africa at DP World described the agreement as an important milestone that reinforces the company’s long-term commitment to Kenya. In remarks carried by multiple outlets Akoojee stated This project will not only strengthen regional trade and supply chain connectivity but also create thousands of employment opportunities attract new investment and contribute meaningfully to Kenya’s socio-economic development. Suleiman Shahbal chairman of GulfCap Group which oversees GulfCap Africa noted that the project represents a plan pursued for more than 15 years and hailed it as a first-of-its-kind initiative for the coast.
Essa Kazim group chairman of DP World highlighted the tripartite collaboration involving the county government as a model for creating the right environment for business that supports infrastructure and competitiveness. The development aligns with DP World’s broader expansion across sub-Saharan Africa that includes operations in Tanzania and Somaliland as well as plans for additional special economic zones and cold storage facilities. Kenyan authorities have framed the park as part of wider efforts to evolve the national economy from consumption toward manufacturing and value-added exports.
The shareholders agreement sets governance and operational frameworks for the venture including mechanisms for phased implementation and stakeholder coordination according to statements from the parties involved. DP World which operates ports and free zones in several African markets will use the site to support businesses and enhance Mombasa’s role as a regional trade gateway. The project comes as Kenya continues to promote special economic zones to attract foreign direct investment and generate employment in coastal regions.
