Centum Investment-owned Two Rivers International Finance and Innovation Centre (Trific) has secured $47.5 million (Sh6.1 billion) funding from Africa-focused fund manager Vintage Capital to fuel its expansion plans. This investment will facilitate the construction of additional office towers and the furnishing of the already built Trific North Tower, enhancing workspace within Nairobi’s Gigiri area.
Trific, which attained Special Economic Zone (SEZ) status last year, plans to utilize the investment to develop a new 76,800-square-metre office tower for lease to SEZ enterprises. The Trific North Tower, spanning 14,975 square metres, has already attracted bookings from 14 enterprises, with additional firms in the pipeline.
“We are very excited to have attracted such an investment into our business. It is a strong show of confidence in the ecosystem we have created in a short time,” stated Brenda Mbathi, CEO of Trific.
Trific, occupying over 64 acres within the Two Rivers development, offers grade-A offices, residential, hospitality, and social amenities, making it an attractive destination for SEZ enterprises. The ecosystem provides direct access to residential, dining, lifestyle, retail, and entertainment options.
The SEZ status of Trific provides several incentives to enterprises, including full exemption from VAT, excise duty, import duty, and import declaration fees on imported goods. Additionally, firms enjoy a preferential corporate tax rate and special infrastructure support.
Kenya’s push to establish SEZs is part of broader economic growth strategies aimed at job creation and facilitating export-oriented investments. Trific’s expansion aligns with these goals, aiming to attract diverse sectors like business processing outsourcing, shared services, regional headquarters, and investment holding corporations.
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