This archive report was first published on 24 October 2021.
Published on October 24, 2021, Kuwait-based Nation Aviation Services (NAS) has acquired a 51% stake in Siginon Aviation Ltd, Kenya's largest aviation cargo management and ground handling company, for $40 million.
Siginon Aviation, associated with the late President Moi's family, has over 30 years of experience in the industry and operates in Tanzania and Uganda.
With this acquisition, NAS expands its presence in Africa, adding JKIA and Moi Eldoret Airport to its growing network. In 2020, NAS launched operations in 14 airports across Africa.
According to Hassan El Houry, NAS Group CEO, the company's cargo services have been crucial in keeping supply chains flowing uninterrupted during the pandemic. NAS has handled over a million COVID-19 vaccines at different African airports.
The partnership between NAS and Siginon Aviation aims to strengthen NAS's ground, ramp, and cargo handling capabilities in Africa.
Meshack Kipturgo, Siginon Group Managing Director, said, "We foresee great promise in business and growth for our staff and customers through service delivery now and into the future. This partnership will enable us to extend our footprint in Kenya as we jointly tap into opportunities present in the cargo and aviation sector."
