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Jan 02 2012

DMCC Welcomes Shalina Group's Move to Almas Tower

DMCC Welcomes Shalina Group's Move to Almas Tower
One of Africa's leading mining and healthcare companies becomes a DMCC member

Dubai, UAE; 2 January 2012: The Dubai Multi Commodities Centre (" DMCC "), the licensing authority for the Jumeirah Lakes Towers ("JLT") Free Zone, announced today that Shalina Group ("Shalina" or the "Group"), a West-African-focused mining and healthcare company with 3,000 employees across six African countries, has moved its global operations to JLT.

Shalina Group will be headquartered in Almas Tower, JLT's purpose-built flagship tower and the tallest commercial tower in the Middle East. The Group has operating offices in the UK, Africa and Asia and JLT will act as the primary base for both of its wholly-owned subsidiaries: Shalina Resources, a copper mining and production company, and Shalina Healthcare, a pharmaceutical manufacturing and distribution business. Shalina Group is part of a growing number of African-focused companies joining DMCC .

Ahmed Bin Sulayem, Executive Chairman of DMCC , commented:

" DMCC 's ability to support a company with such a wide-ranging portfolio of businesses is indicative of the depth and breadth of the services we offer. We have built upon the success of our initial commodity-focused mandate to create a unique business environment that facilitates the growth of industries crucial to the development of the UAE as both a geographic and economic hub. The addition of Shalina Group to our member-base is further evidence of our ability to attract a diverse range of top-tier international companies to both our free zone and Almas Tower.

"We witnessed increased interest and activity from African companies this year as trade between the UAE and the continent continues to grow. The UAE's overall trade with six non-Arab African countries alone reached US$ 6.2 billion in 2010[1] and is expected to grow further this year. In commodities, Dubai's diamond trade for example is recording growing trade with new African markets such as Angola and the Democratic Republic of Congo. Moreover, DMCC provides these African companies with the ideal platform to connect them with the wider trade and consumer markets in the Middle East and Asia, especially China. We look forward to further strengthening our relations with Africa in 2012."

Shalina Group is a privately owned company founded in 1981 as a wholesale pharmacy producing high quality but low cost medicines for the African market. It first opened in Kinshasa, Democratic Republic of Congo. Thirty years later, the company has expanded its operations to include cobalt mining and mineral processing, covers six countries including Ghana, Nigeria and Angola and is pursuing an aggressive expansion plan.

Abbas Virji, CEO, Shalina Group, adds:

"In our business, office location has tremendous bearing on culture and work ethos. We took the decision to relocate our headquarters to Almas Tower as it is a world-class building that gives our employees a feeling of pride and reminds us daily to think big to achieve our dreams.

"Equally important is the choice of free trade zone that a foreign-owned multi-national chooses to work in because they become an important stakeholder in our business. The thing that has impressed me most about working with DMCC is their business friendly attitude. They take time to understand your businesses needs and work pro-actively to find solutions for you. We look forward to growing our global operations with DMCC as a partner for many years to come."

-Ends-

Dubai Multi Commodities Centre Authority ( DMCC )
The Dubai Multi Commodities Centre Authority ( DMCC ) is the master developer and licensing authority for the Jumeirah Lakes Towers (JLT) free zone, one of the largest, fastest growing mixed-use developments in Dubai. Owned by the Government of Dubai, DMCC was established in 2002, by Royal Rule No 4 of 2002, with a mandate to enhance commodity trade flows through the Emirate by providing the physical, market and financial infrastructure required.

DMCC offers a fit-for-purpose regulatory framework, modern infrastructure, free-hold property, innovative products and value-added services. It has successfully attracted key participants throughout the entire commodities sector value chain; as well as businesses ranging from shipping to recruitment, IT to advertising and fashion. JLT-based companies enjoy highly attractive benefits under the free zone status, including a 50-year guaranteed tax holiday, 100 per cent business ownership, full ownership of business premises, and a secure, regulated environment.

As a 200 hectare, mixed-use waterfront master development with a prime central location on Sheikh Zayed Road, JLT nurtures both trade and community living through its commercial, residential and retail property offering. Today, JLT is home to over 3,600 regional and multi-national companies and over 23,000 residents.

For media enquiries:
Dubai Multi Commodities Centre
Sandra Sloan
PR & Corporate Communication
+971 4 364 4261
sandra.sloan@dmcc.ae

Brunswick Group
Katharine Crallé
+971 (4) 446 6270
dmcc@brunswickgroup.com

[1] Six countries are: Angola, Kenya, Nigeria, Ethiopia, South Africa and Tanzania - source: www.africa-business.com

© Press Release 2012


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