Kuwait-based NAS takes majority stake in Siginon Aviation

The acquisition dawns as the buyer expands into Kenya adding the Nairobi and Eldoret hubs into its network.

While the value of the deal has not been disclosed, the buy aligns to NAS’s expanded focus on the cargo business which has taken a front seat during the COVID-19 pandemic.

“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,” said NAS Group CEO Hassan El-Houry.

On its part, the Siginon Group expects the deal to strengthen its primary ground, ramp and cargo handling capabilities.

“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,” said Siginon Group Managing Director Meshack Kipturgo.

NAS has a presence in 55 airports in Africa, the Middle East and Asia.