Businessman Suleiman Shahbal has concluded a landmark investment agreement with global logistics company DP World to establish a Special Economic Zone (SEZ) in Mombasa, in a deal valued at more than KSh 12 billion (USD 100 million). Kenyan Businessman Shahbal Secures KSh 12b DP World Special Economic Zone Deal for Mombasa Source: UGC The agreement was struck between DP World and Shahbal’s Gulf Group of Companies, representing the culmination of a vision the businessman has championed for over two decades. A formal signing ceremony is scheduled for 8 September at State House, Nairobi, where the DP World Chairman and Shahbal will sign the agreement in the presence of President William Ruto. Mombasa SEZ: What the Project Entails The zone will be developed on a 535-acre parcel in Jomvu Sub-County, land that previously served as a cattle staging ground under the Kenya Meat Commission. The site is currently leased from the Mombasa County Government and will be redeveloped into a fully operational Special Economic Zone catering to manufacturers, logistics operators, exporters, and technology companies. As many as 67 businesses have already confirmed their intention to operate within the zone, according to sources familiar with the deal. The project is projected to create 7,972 direct jobs, while generating indirect employment opportunities for contractors, transporters, artisans, engineers, and other skilled and semi-skilled workers across the region. Shahbal first included the SEZ proposal in his development agenda in 2010, spending subsequent years lobbying investors and government agencies to support the initiative.
The project aligns with the national government’s strategy of promoting industrialisation, attracting foreign direct investment, and growing Kenya’s export capacity through SEZ development. Business Community Reacts to the Deal Kenya National Chamber of Commerce and Industry (KNCCI) Mombasa Chapter chairman Aboud Jamal said the zone has the potential to reposition the entire Coast region economically. “We fully support investments of this magnitude because they have the potential to transform our local economy. The SEZ will not only attract more investors but also create thousands of jobs, stimulate trade, and position Mombasa as a leading regional logistics and manufacturing hub,” Jamal said. “This is exactly the kind of strategic investment the private sector has been advocating for, and we look forward to working with all stakeholders to ensure its success,” he added. Headquartered in Dubai, DP World operates ports, free zones, and logistics hubs across more than 70 countries, and has previously invested in major infrastructure projects throughout Africa, Asia, Europe, and the Americas. Economic analysts say the ripple effects of the investment could extend well beyond Mombasa, with increased industrial activity expected to broaden Kenya’s tax base, grow exports, and draw in additional foreign capital.
