Vantage Capital Commits $47.5M Funding for TRIFIC SEZ in Nairobi

James Mworia, CEO of Centum, echoed this sentiment, highlighting the project's role in attracting FDI, creating jobs, and enhancing Kenya's competitiveness regionally and globally.

Vantage Capital, Africa's largest mezzanine fund manager, has committed $47.5 million in mezzanine funding for the Two Rivers International & Innovation Centre (TRIFIC SEZ), a pioneering services-oriented business park situated within Nairobi's prestigious diplomatic blue zone. The initiative, spearheaded by Centum Investment Company PLC, a prominent Nairobi Stock Exchange-listed investment group, aims to establish an integrated business environment within a special economic zone (SEZ).

Key Highlights of the Project:

Project Scope: The funding will support the acquisition and refurbishment of a 14,975 sqm office tower and the development of two Grade A office towers, totaling 76,800 sqm of leasable space. TRIFIC SEZ is strategically designed to offer state-of-the-art infrastructure and leverage Kenya's SEZ incentives to enhance global competitiveness for businesses.

SEZ Incentives: Tenants at TRIFIC SEZ will benefit from favorable SEZ tax incentives including VAT zero-rating, import and stamp duty exemptions, and a reduced corporate tax rate of 10% for the first decade of operations. These incentives are pivotal in attracting multinational corporations and fostering economic growth.

Economic Impact: The project is expected to create hundreds of jobs, attract foreign direct investment (FDI), and contribute significantly to Kenya's export revenues. It underscores Centum's track record in delivering major real estate ventures, such as the Two Rivers Mall and over 2,000 residential units across Kenya and Uganda.

Strategic Partnerships: Vantage Capital's partnership with Centum underscores their confidence in the project's potential to bolster Kenya's investment landscape. Their investment marks Vantage Capital's 37th across Africa, reflecting their robust presence and commitment to driving economic development.

Supporting Infrastructure: TRIFIC SEZ integrates seamlessly with the wider Two Rivers precinct, offering tenants access to residential areas, dining options, retail facilities, and entertainment venues. This ecosystem is designed to enhance the overall work environment and lifestyle for employees and businesses alike.

Stakeholder Collaboration: Legal counsel for Vantage Capital was provided by Werksmans in South Africa and Bowmans in Kenya. The transaction also involved advisory support from firms including JLL, PWC Kenya, Turner & Townsend, Webber Wentzel, and IBIS Consulting, highlighting a collaborative effort to ensure the project's success.

Leadership Insights: Warren van der Merwe, Managing Partner at Vantage Capital, and Roshal Ramdenee, Associate Partner, expressed enthusiasm for the partnership with Centum, emphasizing the transformative impact of TRIFIC SEZ on Kenya's economic landscape.

James Mworia, CEO of Centum, echoed this sentiment, highlighting the project's role in attracting FDI, creating jobs, and enhancing Kenya's competitiveness regionally and globally.

In conclusion, Vantage Capital's investment in TRIFIC SEZ exemplifies a strategic alignment with Kenya's economic growth objectives, leveraging SEZ incentives to foster development and positioning Kenya as a premier investment destination in Africa.