Two Rivers International Finance and Innovation Centre Special Economic Zone (TRIFIC SEZ) has secured $47.5 million (Sh6 billion) from Vantage Capital, aimed at expanding its infrastructure to accommodate new businesses.
The investment will fund the acquisition and development of TRIFIC SEZ’s first office block, the TRIFIC North Tower, along with additional office space to house a variety of enterprises. Already, fourteen firms across sectors such as BPOs, shared services, regional headquarters, and investment holdings have committed to the SEZ, anticipating the creation of 10,000 jobs and attracting Sh8.3 billion ($65 million) in FDI.
James Mworia, CEO of Centum Investment Company Plc, which initiated the investment, highlighted its significance in enhancing Kenya’s attractiveness for global investments. Roshal Ramdenee from Vantage Capital echoed this sentiment, emphasizing TRIFIC SEZ’s potential to bolster Kenya’s competitive edge in attracting international investments.
The SEZ’s strategic location within the Two Rivers ecosystem, featuring residential, dining, retail, and entertainment amenities, enhances its appeal to businesses and employees alike. This development is expected to facilitate annual service exports worth $390 million (Sh50 billion), underscoring its pivotal role in Kenya’s economic landscape.
As TRIFIC SEZ continues to expand, supported by stakeholders and government initiatives, it is poised to establish itself as a cornerstone of Kenya’s economic growth and regional influence.
Photo source: Google
By: Montel Kamau
Serrari Financial Analyst
20th June, 2024
