Khalifa Fund signs MOU with Zambia to support SME sector
Asperthemou, Khalifa Fund will pr ovide $15 million t o the African nat ion t o support its SME sector
Khalifa Fund for Enterprise Development has signed a Memorandum of Understanding (MOU) with the Ministry of Small and Medium Enterprise Development, Zambia.
As per the MOU, Khalifa Fund will provide $15 million (equivalent to Dhs55 million) to the African nation to support their SME sector.
The MOU was signed in the presence of Sheikh Shakhboot bin Nahyan bin Mubarak Al Nahyan, Minister of State: Alia Abdulla Al Mazrouei, CEO of Khalifa Fund; and Stanley K Kakubo, Minister of Foreign Affairs and International Cooperation for Zambia; to promote a culture of entrepreneurism, create new enterprises and jobs, and empower local youth and women for an economically robust Zambia.
The MOU will fund various sustainable projects and contribute to creating jobs for the youth and women in Zambia.
Al Mazrouei said, “This MOU signifies the exceptional ties between the UAE and Zambia through Khalifa Fund’s efforts in boosting a culture of entrepreneurism and is encouraging disruptive and innovative startups and SMES to scale faster in Zambia. Through this, we aim to empower young people and women by providing the right opportunities and jobs, and overall making it easier for small and medium-sized enterprises to grow with the right capital investments.”
For his part, Kakubo expressed his gratitude for Khalifa Fund’s incredible support, which will enable the development and growth of the Zambian economy and society as a whole.
He also highlighted the strong and friendly ties between the two countries.
‘’This support will enable us to recognise and offer the right support to mission-driven, innovative companies and offer support to more young people and women so they can come forward and play their role in transforming Zambia for the beter,” he added.
Meanwhile Khalifa Fund for Enterprise Development has supported - for the first time in its history - the participation of three international entrepreneurs participated at the Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX).
The international participants include multiple businesses that have been established in the Chechen Republic and are actively supported by the Zayed Foundation and Khalifa Fund’s partner in the region. Khalifa Fund will also be supporting the participation of several Uae-based businesses that represent UAE national heritage through various sectors, including hunting and equestrianism.
The support of the three Chechen businesses comes as part of Khalifa Fund’s long-term international outreach efforts, where Zayed Fund was established and set up by Khalifa Fund in 2017 in Grozny, the Chechen capital, with a capital of $50 million, to empower women and youth by developing their entrepreneurial skillset, and boost the growth of the local economy.
Alia Al Mazrouei. CEO of Khalifa Fund for Enterprise Development, said, “ADIHEX is amongst the most prestigious and imperative exhibitions in the region, which uniquely shines a light on our heritage, culture and traditions. For the first time in Khalifa Fund’s history, we’re delighted to support three international businesses alongside our six Uae-based businesses.
“Our international counterparts, who are funded by the Zayed Foundation, share our values within the hunting and equestrian sector and also have a deep-rooted history in manufacturing goods and offering services in this specific sector.”
ADIHX, which is renowned for being the largest exhibition for hunting, equestrian and heritage preservation in the Middle East and Africa, is organised by the Emirates Falconers’ Club and atracts local and global atendees to develop its plans and projects to be in line with its leading environmental and heritage goals in promoting sustainable hunting.
AD Ports Group, the leading facilitator of global trade, logistics, and industry, has signed a Memorandum of Understanding (MOU) with Tosyal1, one of Turkey’s largest private steel producers, which has operations in three continents.
The MOU looks to establish the framework for AD Ports Group to collaborate with Tosyal1 on a broad range of shipping, logistics, ports, and freight forwarding services, including potentially jointly investing in new port facilities to support its export operations.
With 30 manufacturing plants, including associates and joint ventures in Turkey, Algeria and Angola, Tosyal1 has an annual manufacturing capacity of more than 10 million tonnes of steel, with significant volumes shipped to markets around the world. The company operates an organised industrial site at Iskenderun Port, Turkey, and is involved in the development of the new Erzin Port.
AD Ports Group expanded its shipping fleet and logistics operations in 2022 through a series of strategic acquisitions and joint ventures, positioning the company as an ideal partner for the fast-growing steel producer.
Executives are confident that the collaboration will contribute to the developing trade relationship between the UAE and Turkey, which saw non-oil trade between the two countries grow by 54 per cent year-on-year in 2021 to Dhs 50.4 billion.
Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “AD Ports Group is pleased to sign this agreement with Tosyal1, which is the leading steel company in Turkey and the biggest steel producer in Africa. Our integrated business offering enables us to provide a full suite of shipping, logistics and port services for customers like Tosyal1, supported by innovative digital technology. We are grateful for the support and guidance of the UAE’S leadership that enables us to pursue global agreements of this nature.”
Fuat Tosyal1, Chairman of the Board of Directors of Tosyal1 Holding Co., said: “As Tosyal1 Holding, we aim to deploy shipping and logistics facilities that can bring our products to market quickly and efficiently, and contribute to the growth of our nation’s exports. We believe we have found a strong partner in AD Ports Group, which matches our international ambitions and provides a wide range of services and expertise supported by a world-class fleet.”
Established in 2006, AD Ports Group today serves as one of the world’s leading facilitators of logistics, industry, and trade, as well as a bridge linking Abu Dhabi to the world. Listed on the Abu Dhabi Securities Exchange (ADX: ADPORTS), AD Ports Group’s vertically integrated business approach has proven instrumental in driving the emirate’s economic development over the past decade.
Operating several clusters covering Ports, Economic Cities & Free Zones, Maritime, Logistics, and Digital, AD Ports Group’s porfolio comprises 10 ports and terminals, and more than 550 square kilometres of economic zones within KEZAD Group, the largest integrated trade, logistics, and industrial business grouping in the Middle East.
Tosyal1 Holding creates economic and social value for 70 years with nearly 30 facilities and approximately 15,000 employees in 3 continents. Tosyal1 is Turkey’s global steel producer with an annual iron and steel production of nearly 6 million tonnes.
According to the data of the World Steel Producers Association, it ranks 83nd among the world steel producers in 2021. Standing out with its product variety in the iron and steel industry, Tosyal1 meets the needs of many industries, from automotive to white appliances, from energy to construction, with its wide product range.
Tosyal1 Holding, which has significant investments abroad, has started investment in Angola and Senegal following Montenegro and Algeria operations. One of the largest industrial facilities in Algeria, “Tosyal1 Algerie” draws atention as being Turkey’s largest industrial investment abroad. Reinforcing its global business capability with foreign partnerships, Tosyal1 has been also carrying out successful business partnerships with Japanese Toyo Kohan and US Harsco companies in Turkey for many years. Tosyal1 Holding, which has made significant investment in sustainability, technology, and innovation, aims to be one of the leading companies in green steel production and to reduce its carbon footprint level by developing and by using the highest technologies; such as the world’s largest DRI (Directly Reduced Iron) facility used in its production in Algeria and Quantum Furnace, which will be used for the first time in Turkey in its production facility in Sar1seki, Turkey.
Having international knowledge in the management and operation of industrial zones, Tosyal1 is planning port investments in Erzin, in addition to ongoing port operations in Iskenderun and Algeria. Tosyal1 Holding also continues its activities in the industrial zone management both in Turkey and in Africa.