Uncovering Dubai firms that scored mega deals in Kenya
October6 Deputy President Rigati Gachagua said Kenya is in talks with countries in the Middle East and other parts of the world to buy locally grown coffee.
Gachagua said this would replace the current process where companies bid for certain volumes of produce on the Coffee Exchange.
On the same day, Finance Minister Nguna Ndungu announced a statement that Pioneer General Insurance, a company owned by three Dubai-registered entities, had offered to buy Sidian Bank shares worth Ksh1.9 billion.
Two of these companies - Abcon International LLC and Medillon Trading FZE - had previously tried to invest in Kenya and had ties to the Russian Covid-19 vaccine Sputnik, imported in 2021.
The shares purchased in the bank were held by Centum Investments Company PLC, in which the government has a minority stake.
Two days earlier, Prof.
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While the government paid Ksh6 billion to Helios Investment Partners for the same stake in October 2022.
The two announcements are the latest in a list of deals indicating that Kenya has become a "favorite" of the United Arab Em
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