The DMCC-registered firm brings operational capacity and long-term planning to East Africa.
In an exciting development for the cryptocurrency landscape, Omining, a Dubai-based crypto infrastructure company, has officially expanded its operations into Kenya. This move marks a significant milestone as the company launches one of the first large-scale Web3 deployments by a UAE-based entity in East Africa. The newly established facility is strategically located within Kenya’s Special Economic Zone (SEZ), which is becoming increasingly attractive to global technology firms.
As prominent tech players such as Microsoft make strides into Kenya’s SEZ framework, Omining’s entry underscores a growing interest from international companies in tapping into East Africa’s potential. Notably, rumors suggest that other tech giants like Google and Amazon are also conducting due diligence for future investments in the region.
The operational hub established by Omining boasts an impressive capacity of 90 megawatts, which is set to expand to 200 megawatts. This surge in capacity takes full advantage of Kenya’s stable electricity costs and investor-friendly regulations. The site in Naivasha also provides other compelling benefits, including a temperate year-round climate averaging between 6 to 30 degrees Celsius, a completely tax-free regime in the SEZ, and a currency closely pegged to the US dollar, sharing similarities with Dubai.
Francesco Colucci, Managing Partner at Omining, expressed his enthusiasm for this new venture, saying, “We’re witnessing the beginning of a revolutionary era – the democratisation of cryptocurrency mining. By enabling anyone to mine a currency without government control, we’re participating in a groundbreaking movement that’s reshaping the world’s financial landscape.” His sentiment encapsulates the transformative potential of cryptocurrency as it gains more traction across diverse markets.
In regions where electricity is not readily accessible, crypto mining operations like those initiated by Omining can serve a dual purpose. Despite Kenya’s advancements in renewable energy generation, rural areas often face challenges in grid expansion due to economically low demand. Omining’s consistent demand for power and its substantial investments in the region could stabilize long-term revenue streams for local utility providers, contributing to healthier infrastructure and improving access to energy resources.
Lorenzo Calligaris, the Chief Technology Officer at Omining, elaborated on the broader implications of their new infrastructure: “The infrastructure we’re building is about more than just scale. You need to be in environments that understand what you’re doing and let you move fast, but responsibly. That’s what we’ve had in Dubai, and now we’re applying that playbook in Kenya.” His remarks highlight the importance of a supportive regulatory environment in fostering technological innovation.
Kenya’s SEZ has emerged as a pragmatic alternative to other, more congested locations, particularly because of its proximity to Nairobi coupled with efficient logistics infrastructure. This favorable combination is beginning to alter how international entities view the potential of the region for investment and operational expansion.
The SEZ is gaining traction across multiple industries due to its skilled labor pool and improving integration with global digital trade systems. Kenneth Chelule, CEO of the SEZ Authority, has recently noted the potential for crypto mining firms like Omining to enhance local employment opportunities and boost energy monetization efforts.
Ultimately, the emerging ties between Dubai and Kenya illustrate the potential for deeper, sustained digital economies. Omining’s strategic move into the region serves as an early case study of how these relationships could unfold, shaping the future of the financial landscape in East Africa.
