UAE & Kenya unite for investment cooperation in technology

By Shilpa Annie Joseph, Official Reporter
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UAE-Kenya sign MoU
Officials during the signing ceremony.

UAE Ministry of Investment of the UAE and the Ministry of Information, Communications, and the Digital Economy of the Republic of Kenya have signed an Investment Memorandum establishing a framework for investment cooperation in the field of digitalization and technology.

In addition to exploring investments in digital infrastructure and artificial intelligence (AI) services in Kenya, the cooperation may include the development of data center projects with a total capacity of up to 1,000 megawatts.

Mohamed Hassan Alsuwaidi_UAE & India sign digital infrastructure MoU
Mohamed Hassan Al Suwaidi
UAE Minister of Investment

“A closer partnership between our two nations harbors remarkable opportunities in numerous fields that can contribute to the continued strengthening and advancement of our economies. Through targeted investments in digital infrastructure and artificial intelligence, this Investment Memorandum is set to accelerate the development of a sector that has the potential to become a growth driver for other industries, setting out a vision for the future defined by prosperity and progress.”

In the field of AI, the technical and investment potential of developing Large Language Models will be assessed. The Memorandum focuses on facilitating strong and effective relationships between public and private sector organizations in the two countries to enable cooperation in digital infrastructure projects. It additionally proposes the implementation of incentives to support pertinent initiatives.

His Excellency Eliud Owalo, Cabinet Secretary at the Ministry of Information, Communications and the Digital Economy in Kenya, said that, “Collaboration between Kenya and the UAE goes beyond strategy; it is poised to strengthen the bonds between our two nations. With the potential to bridge the digital divide in Africa, expedite technological innovation, and foster a sustainable future for the ICT industry, this partnership will pave the way for a more inclusive and interconnected digital world.”

The MoU was signed after the UAE and Kenya finalized a Comprehensive Economic Partnership Agreement (CEPA), marking a milestone as the first CEPA between the two countries, deepening investment ties and boosting bilateral non-oil trade, which reached $3.1 billion in 2023, up 26.4 percent on 2022.

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