Two Rivers International Finance & Innovation Centre (TRIFIC) SEZ secures KES6bn funding from African investor

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By Edward Genesis

TRIFIC SEZ is pleased to announce that it has secured an investment of Kes.6 billion (US$47.5 million) from Vantage Capital, an African mezzanine finance investor.

TRIFIC SEZ will utilize this investment to acquire and fit out its first office tower, the TRIFIC North Tower, a 14,975 square metre property in the Two Rivers precinct located in the Gigiri area of Nairobi County in Kenya.

Additionally, TRIFIC SEZ will develop a new office tower of 76,800 square metres of leasable space to host additional SEZ enterprises.

TRIFIC SEZ Secures Kes.6 Billion Investment - Kenyan Wall Street - African  Business and Global Finance

TRIFIC SEZ aims to create an integrated business environment, offering world-class infrastructure,

advanced technology, and a robust regulatory framework. It is designed to provide businesses with a

competitive edge on a global scale, leveraging Kenya’s SEZ framework. Already, TRIFIC SEZ has secured bookings for the TRIFIC North Tower from fourteen (14) different SEZ enterprises and has a pipeline of additional SEZ enterprises looking to come into its zone necessitating the development of additional office towers. Of the SEZ enterprises that have already booked space within the TRIFIC SEZ, it is estimated that there will be 10,000 jobs created and attract foreign direct investment into the country of US$65 million. It is forecasted that this will facilitate the export of services worth US$390 million annually. These SEZ enterprises are spread across different sectors, including business processing outsourcing firms (BPOs), shared services centres, regional headquarters and investment holding corporations.

A key attraction for SEZ enterprises coming into the TRIFIC SEZ is the direct access to the wider

Two Rivers ecosystem, which includes residential developments, dining and lifestyle options, retail

offerings, and entertainment venues, all curated to enhance the work environment for businesses and

their employees.

TRIFIC SEZ Chief Executive Officer, Brenda Mbathi, said, “We are very excited to have been able to

attract such an investment into our business. It is a strong show of confidence in the great opportunity

that lies in the ecosystem we have created in a short time. TRIFIC SEZ was only licensed late last year

but we have been able to make great strides in attracting SEZ enterprises into our zone”.

Warren van der Merwe, Managing Partner at Vantage Capital, said “We are proud to partner with

Centum on this remarkable project, which will generate hundreds of jobs and attract much-needed

foreign direct investment to Kenya.”

Roshal Ramdenee, Associate Partner at Vantage Capital, added “We are excited to partner with

Centum on the development of the TRIFIC SEZ. From our interactions with the Centum team, we

have been impressed by their deep real estate expertise and commitment to attracting businesses to

Kenya by effectively marketing its favourable operating environment. We are confident that TRIFIC

SEZ will play a key role in enhancing Kenya’s competitiveness as a premier investment destination on

the continent.”

TRIFIC SEZ is a subsidiary of the Nairobi Securities Exchange (NSE) listed Centum Investment

Company Plc. “We are very pleased to have created an opportunity that has been able to attract KES6

billion in foreign direct investment (FDI) and goes to show that Kenya continues to be an attractive

investment destination for foreign investors. The various mechanisms instituted by the Government,

such as the regime for Special Economic Zones in the country, shows that Kenya continues to make

great strides in ensuring we remain globally competitive,” said Centum’s Chief Executive Officer, Dr

James Mworia.

TRIFIC SEZ was represented in the transaction by Anjarwalla & Khanna Advocates, a member firm of

the Africa Legal Network (ALN).

About TRIFIC SEZ

TRIFIC is the only services-focused Special Economic Zone (SEZ) in Kenya, offering new and exciting

prospects for global, regional, and Kenyan service-oriented business enterprises seeking a competitive

and advantageous base to access international markets.

Spanning over 64 acres within Nairobi’s prestigious diplomatic blue zone and with a further robust

development capacity of 1.2 million square meters, TRIFIC provides global businesses and talent with

a world-class environment to thrive, offering a world-class live-work-play ecosystem with grade A

offices, residential, hospitality, and social amenities.

TRIFIC SEZ is owned by Centum Investment Company PLC ), a Nairobi Securities Exchange-listed

investment group established in 1967, with interests spanning real estate, energy, industrial operations,

technology, media, telecommunications, and financial services. Centum boasts a strong track record

of delivering significant real estate projects, including Two Rivers Mall, and has completed over 2,000

residential units in Kenya and Uganda.

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