Kenya's Equity Group to open representative office in the UAE
Subject to regulatory approvals, the new office aims to facilitate business, trade and investment opportunities between East and Central Africa, the UAE, and the wider Middle East, India, Central and South Asia regions.
Equity Group Holding is the largest financial services conglomerate in East and Central Africa. As of December 2024, it had assets exceeding US$13.9 billion and served over 21.6 million customers across seven African countries, with deposits exceeding US$10.8 billion.
Prof Isaac Macharia, Chairman of Equity Group Holdings, said: 'The establishment of a Representative Office in the UAE marks a strategic step in deepening regional and global connectivity.'
Equity will join African rivals including Absa Group, Standard Bank Group and United Bank for Africa, which are either expanding into or already operating in the Middle East.
Dr James Mwangi, Equity Group Managing Director and CEO, added: 'Equity Group continues on a strong growth trajectory, driven by our commitment to innovation, regional expansion, and sustainable practices. The establishment of a Representative Office in the UAE marks an exciting step in our journey to connect Africa with global markets, creating new opportunities for trade and investment.'
In an interview with Bloomberg TV, Mwangi added: 'The Middle East has deep capital sources, very strong logistics for trade and it is a strong center for investment. Linkage with the middle-income segment is growing in India and China. That will provide a very strong market wave for African goods and services.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
3 minutes ago
- Khaleej Times
Dubai: Al Barsha South Fourth leads in property transactions during first half of 2025
Dubai's real estate sector recorded transactions reaching up to approximately Dh431 billion during the first half of 2025, according to the Dubai Land Department. The performance this year was a 25 per cent rise from the same period last year, when transactions worth Dh345 billion were recorded. Meanwhile, the number of real estate transactions reached 125,538 this year, up from 99,947 during the same period in 2024, an increase of 26 per cent. The total number of real estate procedures, encompassing sales, leases, and other transaction types, exceeded 1.3 million during the same period, reflecting growing confidence among investors and stakeholders, along with sustained demand across Dubai's real estate segments. Surge in investment Dubai's real estate investment market delivered outstanding results in the first half of the year, attracting 94,717 investors — a 26 per cent increase — who completed 118,132 investments valued at approximately AED326 billion. This represents a 39 per cent rise from Dh234 billion during the same period last year, highlighting Dubai's appeal to investors across diverse segments and nationalities. The number of new investors in Dubai's real estate market reached 59,075, with investments totalling Dh157 billion, a 22 per cent increase in the number of investors and a 40 per cent growth in investment value. Notably, residents in the UAE accounted for 45 per cent of these new investors, highlighting the success of strategies aimed at converting tenants into homeowners. This also underscores the attractiveness of the local market for long-term stability, the resilience of Dubai's property ownership ecosystem and the effectiveness of its incentive-driven initiatives. Women's investments surpass Dh73 billion Women played a pivotal role in driving market activity, investing Dh73.2 billion during this period with 34,792 transactions made by 30,487 female investors. This highlights the growing influence of women in shaping Dubai's real estate landscape and advancing economic diversity. By nationality, GCC investors contributed Dh22.56 billion in investments, Arab investors Dh28.4 billion, and foreign investors Dh228.35 billion. Strong performance across Dubai Several areas in Dubai recorded remarkable performance in terms of the number of real estate transactions in the first half of 2025. Al Barsha South Fourth topped the list with 10,469 transactions, followed by Al Yalayis 1 with 7,595 transactions, and Wadi Al Safa 5 with 7,178 transactions. Other high-performing areas included Business Bay (6,601), Dubai Marina (6,428), Airport City (5,569), Jebel Ali First (4,275), Al Thanyah Fifth (3,956), Burj Khalifa (3,670), and Meaisem First (3,643). In terms of transaction value, Dubai Marina led the market with Dh25.1 billion, followed by Business Bay at Dh22.5 billion, Burj Khalifa at Dh17.1 billion, and Palm Jumeirah at Dh16.96 billion, underscoring the concentration of luxury investments in these prime locations. Other high-value areas included Al Yalayis 1 (Dh15.7 billion), Meaisem Second (Dh15.4 billion), Wadi Al Safa 5 (Dh15.3 billion), Airport City (Dh15.2 billion), and Al Barsha South Fourth (Dh14.9 billion). Mohammed Bin Rashid Gardens also stood out, registering Dh14.5 billion in transaction value, reflecting the expanding landscape of investment-attractive areas and rising demand for diverse real estate developments.
The National
an hour ago
- The National
Acwa Power signs pacts to export renewable energy and green hydrogen to Europe
Saudi Arabia's Acwa Power has signed preliminary agreements to export renewable energy and green hydrogen to Europe under the India-Middle East-Europe Economic Corridor (IMEC) project. A multi-party deal was signed by Acwa Power with Italy's Edison, France's TotalEnergies Renewables, Zhero Europe from Netherlands and Germany's EnBW, Saudi Arabia's Ministry of Energy said on Sunday. "This deal establishes a collaborative framework to assess the market demand and feasibility of developing large-scale renewable energy projects dedicated for export in Saudi Arabia and the creation of a corridor to deliver generated electricity to Europe," it said. Acwa Power also signed individual pacts with companies involved in the development of electricity corridors, including technical consultant Cesi (Italy) and HVDC technology and cable providers Prysmian (Italy), GE Vernova, Siemens Energy (Germany) and Hitachi (France). "These agreements aim to develop advanced energy transmission corridors that enhance supply reliability and the efficiency of cross-border energy infrastructure," the ministry said. A joint development agreement was also signed with EnBW to collaborate on the first phase of the Yanbu Green Hydrogen Hub, which is planned to be ready for commercial operations by 2030. The hub seeks to be a fully integrated base with its own captive electricity generation from renewable sources, desalination plants to support its hydrogen electrolysis and ammonia conversion facilities, and an export terminal. The project leverages Saudi Arabia's potential to develop renewable energy at competitive rates and supply global industrial demand, the ministry said. The latest pacts, which were signed in Riyadh, are part of the IMEC, which was announced during the G20 summit in 2023. The project consists of an eastern route connecting India to the Gulf and a northern pathway connecting the Gulf to Europe. The cross-border, ship-to-rail transit corridors are expected to reduce shipping costs across the network and support trade in goods and services to, from and between the UAE, Saudi Arabia, India and Europe. The combined exports from these regions are projected to account for 44 per cent of global trade by 2030. Acwa Power, backed by Saudi Arabia's sovereign wealth fund, the Public Investment Fund, is one of the largest renewable energy developers in the Middle East. It currently has operations in 14 countries across the Middle East, Africa, and Central and South-east Asia. It is an investor in and operator of 101 power generation and water desalination projects in operation, construction and advanced development with an overall portfolio size of about $107.5 billion as of February. Last week, Saudi Arabia signed agreements worth more than 31 billion riyals ($8.3 billion) for seven renewable energy projects with an Acwa Power -led consortium to boost the kingdom's green energy capacity. In February, Acwa Power also signed a preliminary agreement with the German company Securing Energy for Europe (Sefe) to produce and supply green hydrogen to Europe. Under the pact, Acwa Power and Sefe will establish a hydrogen bridge between Saudi Arabia and Germany, with an initial target of supplying 200,000 tonnes of green hydrogen annually by 2030. Acwa Power will act as the lead developer, investor, and operator of green hydrogen and green ammonia production assets. Sefe will be a co-investor and the primary off-taker to market the green hydrogen to its German and European customers, the companies said at the time. The Saudi company is also a partner in the $5 billion Neom Green Hydrogen project, the world's largest, which is expected to be completed next year. The other venture partners are Neom and the US-based Air Products, which has secured an off-take agreement for all the green ammonia produced at the site.
Zawya
2 hours ago
- Zawya
DANAT opens registration for Gem-A Foundation and Diploma programs
The Bahrain Institute for Pearls and Gemstones (DANAT) has officially opened registration for the internationally recognised Gem-A Gemmology Foundation Programme and the Gemmology Diploma Programme, both accredited by the Gemmological Association of Great Britain (Gem-A). As the first institution in the Middle East to be accredited by Gem-A, DANAT will offer these advanced academic tracks starting in September, sponsored by the Labour Fund (Tamkeen). Obtaining the internationally recognized Gemmology Diploma Programme certificate unlocks a wealth of career opportunities in the fast-growing global gemstone market, where demand for qualified experts continues to rise. This demand is particularly significant in light of the limited number of Bahraini professionals in the field and the increasing need to develop local expertise. As a result, programme graduates are well-equipped to pursue rewarding careers across both the local and international jewelry industries. The programme is part of DANAT's broader initiative to offer globally certified educational opportunities in gemmological sciences. Participants will also have access to the use of internationally respected professional titles, including FGA, which denotes completion of the Gemmology Diploma. The Gem-A Gemmology Foundation Programme is designed to support individuals aspiring to build or advance a career in the gemstone and jewellery sectors. It provides a rigorous introduction to the field and is particularly valuable for those looking to establish a strong foundational skillset. With over 110 years of expertise embedded in its curriculum, the programme is delivered by a team of experienced and certified instructors. The programme spans 16 weeks, with instruction held one day per week over a four-month period. Participants will engage in over 300 hours of integrated theoretical and practical training, delivered within a cutting-edge educational setting designed to foster personalised learning and skill development. Commenting on the launch, Mrs. Noora Jamsheer, CEO of DANAT, highlighted the programme's transformative potential: "This internationally accredited programme presents a valuable opportunity for individuals aspiring to build a sustainable and impactful career in the gemstone sector, whether in the fields of research, academia, laboratory analysis, or the commercial jewellery industry. By enrolling in these programmes, participants gain access to cutting-edge knowledge and hands-on expertise that empower them to launch entrepreneurial initiatives, strengthen their investment acumen in gemstones, and explore a broad spectrum of roles across the entire jewellery industry." Mrs. Jamsheer further affirmed her confidence in the role these programmes will play in addressing regional talent gaps, and emphasised their alignment with Bahrain's Vision 2030, particularly in nurturing human capital in specialised strategic fields. By cultivating a new generation of highly qualified gemmological professionals, DANAT reinforces its dedication to advancing Bahrain's status as a global hub for gemstones and jewellery expertise and ensuring long-term industry development in line with international standards. -Ends- About DANAT: Bahrain Institute for Pearls and Gemstones (DANAT) was established in 2017, under the aegis of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister of the Kingdom of Bahrain. It was formed as a wholly owned subsidiary of the Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the Kingdom. Its vision is to become the world's preferred institute for natural pearls and gemstones' third-party verification services and scientific research. As a reflection of Bahrain's ancient pearling history and the strong desire to protect this heritage, DANAT was established as the guardian of global gemological excellence. It plays a vital role in ensuring, protecting and enhancing public trust in pearls, gemstones and jewelry. DANAT is an authority on industry standards, scientific knowledge and education, and is committed to maintaining the highest standards of professional and personal ethics. For more information on DANAT, kindly contact. Marketing & Communications
