National Aviation Services (NAS) and Kenya’s Siginon Aviation Ltd have signed a strategic partnership agreement wherein Kuwait based NAS, will acquire a 51% stake and Siginon Group Ltd will retain a 49% stake in Siginon Aviation Ltd., Siginon Group’s airport ground handling and airport cargo management business.
Moi-owned Siginon Aviation sells majority stake to Kuwait-based firm
NAS, the fastest growing aviation services provider in the emerging markets, has expanded its presence in Africa with two new airports - Nairobi and Eldoret added to its growing network.
In the last year alone, NAS launched operations in 14 airports across Africa.
Hassan El-Houry, Group CEO of NAS said, “During the pandemic, our cargo services came to the forefront by keeping crucial supply chains flowing uninterrupted. With the ongoing vaccine requirements around the world, we also handled almost a million doses of the Covid-19 vaccine at different African airports. With this growing demand, we expanded our focus on cargo management in Africa and the partnership with Siginon Aviation is indeed timely.”
A combination of NAS’s global presence and expertise in airport services with Siginon Aviation’s experience in Kenya will successfully strengthen the ground handling, ramp handling and cargo handling capabilities on the continent.
On his part, Siginon Group’s Managing Director Meshack Kipturgo added, “We foresee great promise for business and growth for both, our staff and our customers through service delivery - now and into the future.
This partnership is a true reflection of our mutual ambition to make a positive mark in service excellence, extend our footprint in Kenya and beyond as we jointly tap onto the opportunities present in the cargo and aviation sector.”
As with all its operations, NAS commits to investments in the development of facilities and infrastructure, latest equipment, technology, recruitment, and training of existing staff. NAS will also focus on advancing local knowledge and skills while offering more employment opportunities and career options.
As the business transitions, both NAS and Siginon will ensure business continuity and stability as they jointly grow resource capabilities and enhance service quality with continuous adherence to regulatory requirements and minimal disruption to operations.
It is worth noting that this partnership is only between Siginon Aviation Ltd and NAS Africa Ltd. The rest of the Siginon Group subsidiaries in cargo transportation, airfreight, warehousing, distribution, container freight stations etc. remain under the full ownership and control of the Siginon Group
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