During Official Visit to Kenya, the Saudi EXIM Bank has signed a Memorandum of Understanding (MoU) with Shelter Afrique - a pan-African housing and development finance institution - to support housing, infrastructure, and urban development projects across African countries. The agreement also includes exploring joint financing opportunities aligned with the development goals of both parties.
The MoU was signed by H.E. Eng. Saad A. Al-Khalb, CEO of the Saudi EXIM Bank, and Mr. Thierno-Habib Hann, Managing Director of Shelter Afrique, during the Bank's official delegation visit to Nairobi, Kenya. This visit forms part of broader efforts to strengthen cooperation with financial institutions, commercial entities, and multinational organizations, with the aim of enabling the growth of Saudi non-oil exports and enhancing their competitiveness in Kenyan markets.
Commenting on the signing, H.E. Eng. Saad Al-Khalb stated:
“This MoU with Shelter Afrique reflects our commitment to expanding financial and investment cooperation in urban development and infrastructure projects. It contributes to developing innovative financing solutions that support sustainable development efforts across the African continent, while also opening new opportunities for local companies and exporters to participate in high-potential development projects across the African continent."
He emphasized that the MoU is part of Saudi EXIM's ongoing efforts to enhance international collaboration and expand its strategic partnerships with African institutions - further empowering Saudi non-oil exports, while strengthening their competitiveness and position in global markets.
During the visit, H.E. Eng. Saad A. Al-Khalb, CEO of Saudi EXIM Bank, met with H.E. Hon. Lee Kinyanjui, Cabinet Secretary for Investments, Trade, and Industry of the Republic of Kenya, in the presence of the Saudi Ambassador to Kenya and the Kenyan Ambassador to the Kingdom. The meeting focused on strengthening bilateral cooperation and enhancing the flow of Saudi exports to Kenya. His Excellency also held a series of meetings with leaders of financial and insurance institutions, as part of the Bank's efforts to expand its international partnerships and reinforce trade relations.
