KENYA – Two Rivers International Finance & Innovation Centre (TRIFIC), the only services-focused Special Economic Zone (SEZ) in Kenya, has announced that it has secured an investment of KES6 billion (US$47.5 million) from Vantage Capital, an African mezzanine finance investor.

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

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 in the Gigiri area of Nairobi County in Kenya. 

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

“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 in the ecosystem we have created quickly,” TRIFIC SEZ Chief Executive Officer Brenda Mbathi said.

“TRIFIC SEZ was only licensed late last year, but we have made great strides in attracting SEZ enterprises into our zone.”

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 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 10,000 jobs will be created and that US$65 million in foreign direct investment will be attracted into the country. 

According to forecasts, 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 centers, 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.

“We are very pleased to have created an opportunity that has been able to attract KES6 billion in foreign direct investment (FDI) and shows that Kenya continues to be an attractive investment destination for foreign investors,” said Centum’s Chief Executive Officer Dr. James Mworia.

“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.” 

TRIFIC SEZ was represented in the transaction by Anjarwalla & Khanna Advocates, a member firm of the Africa Legal Network (ALN).

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