Two Rivers gazetted as private special economic zone

Real Estate Development Two Rivers said it will now establish an international finance and innovation centre after the government gazetted it as a private, services-focused special economic zone (SEZ).

The Two Rivers International Finance and Innovation Centre (Trific) is expected to be a milestone in the development of Kenya's economic landscape and a boost for Africa's global investment profile.

The centre will be an international urban node with world class infrastructure, facilities and strategic location.

Firms that set up at Trific will benefit from the fiscal and enterprise facilitation incentives available to SEZ enterprises.

"We are thrilled to be partnering with the Government of Kenya to launch the Two Rivers International Finance and Innovation Centre," said Centum Group Chief Executive James Mworia.

"It is designed to act as a strategic driver to Kenya's economic vision and to propel Africa's engagement with global investors, businesses and talent, offering them an enabling environment and a unique location that can enables them to offer competitive services to clients across the globe.

"We have the potential to develop a further 1.2 Million square meters of development within TRIFIC which can accommodate thousands of enterprises and we will shortly commence the development of a world-class convention centre, a five-star hotel and a hospital to support the enterprises and their employees that will be seeking to locate at Trific," he said.

The Two Rivers land that has been designated an SEZ spans over 64 acres and is located within what is termed as Nairobi's diplomatic blue zone.

Trific, Centum said, becomes the first-ever privately-owned business services SEZ in Kenya.

By attracting enterprises from across the globe, the firm said, the centre will attract foreign direct investment, facilitate knowledge transfer, promote technological advancements, and encourage collaboration among industry leaders.

Trific is expected to further increase export earnings and invigorate Kenya's service sector, which already contributes 55 per cent to the country's gross domestic product and employs nearly 40 per cent of the workforce.