Kenya’s Siginon Group is set to sell a 51% stake in Siginon Aviation Ltd, its airport ground handling and cargo management business to Kuwait-based Nation Aviation Services (NAS) in a deal worth $40 million.
Siginon Aviation, associated with the late President Moi’s family, is the largest aviation cargo management and ground handling company in Kenya with operations in Tanzania and Uganda and over 30 years of experience.
National Aviation Services (NAS), one of the fastest-growing aviation services providers in emerging markets has expanded its presence in Africa with two airports-JKIA and Moi Eldoret Airport- added to its growing network. In 2020 alone, NAS launched operations in 14 airports across Africa.
Hassan El Houry, NAS Group CEO said that during the pandemic, its cargo services have been useful in keeping supply chains flowing uninterrupted. He said the Group has so far handled over a million COVID-19 Vaccines at different African Airports.
Its partnership with Siginon Aviation is due to the desire by NAS to expand its cargo management business in Africa.
Siginon Aviation has more than 30 years experience in Cargo Handling
NAS intends to use its global presence and experience of Siginon to strengthen its ground, ramp and cargo handling capabilities in Africa.
“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 footprint in Kenya as we jointly tap into opportunities present in the cargo and aviation sector,” said Meshack Kipturgo, Siginon Group Managing Director.
This partnership between the Aviation firm and NAS Africa Limited does not affect Siginon subsidiaries in cargo transport, airfreight, warehousing, distribution and container freight stations- they all remain under full ownership and control of Siginon Group.
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