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The Two Rivers International Financial and Innovation Center (Trific) Special Economic Zone is Centum Investmentshas received a Sh6 billion ($47.5 million) investment from pan-African investor Vantage Capital.
The company said the investment will be used to acquire and develop office space within the strategically located Trific Special Economic Zone in Nairobi’s Gigiri area.
This includes the acquisition of the existing TRIFIC North Tower (14,975 sqm) and the construction of a new office building, providing an additional 76,800 sqm of leasable space for SEZ businesses.
Trific SEZ aims to establish a world-class business environment with advanced technology, robust regulations and wider TRiver and lake ecosystemThe area is known for its residential areas, dining options, retail outlets and entertainment venues, the company said, adding that the integrated approach is aimed at providing businesses with a competitive advantage and attracting foreign direct investment.
Trific SEZ has already secured reservations for Trific North Tower from 14 SEZ businesses, with others looking to join the zone.
The companies, which cover sectors such as business process outsourcing, shared service centres, regional headquarters and investment holding companies, are expected to create 10,000 jobs and bring in US$65 million in foreign direct investment.
In addition, annual service exports are expected to reach US$390 million.
“We are delighted to have attracted this investment,” Trific SEZ CEO Brenda Mbathi said in a statement.
“This demonstrates our confidence in the ecosystem we have created.” A representative of Vantage Capital echoed this sentiment, stressing the project’s potential for job creation and foreign direct investment.
James Mworia, CEO of Centum Investment, highlighted the project’s contribution to Kenya’s efforts to attract foreign investors. He praised the government’s efforts to create a conducive business environment through initiatives such as special economic zones.
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