South African corporations have invested $93 million in Kenya’s Tatu City project.
Mninwa Johannes Mahlangu, South Africa’s High Commissioner to Kenya said the investment is part of the two countries’ commitment to strong bilateral trade and investment.
“I am delighted to witness these transformational investments South African businesses are making in Kenya. Our private sector businesses are natural partners to grow capital flows and knowledge exchange,” said High Commissioner Mahlangu.
The Tatu City project is a 5000-acre property that delves into Africa’s urbanization miracle. Its unique characteristics promise traffic relief in Nairobi, Kenya.
The Special Economic Zone, which is 30 minutes outside central Nairobi, is home to one of Kenya’s and East Africa’s largest concentrations of South African foreign direct investment.
Cold Solutions, an investment by ARCH Emerging Markets Partners, which is funded by South African tycoon Patrice Motsepe, and Kenya Wine Agencies Ltd (KWAL), which is majority-owned by South African beverage behemoth Distell.
Homes, hospitals, offices, schools, shopping malls, and integrated sports, entertainment, and lifestyle centres are all part of the multipurpose complex.
More than 60 local, regional, and multinational enterprises have opened or are in the process of opening in the Tatu City Special Economic Zone. Dormans, Cooper K-Brands, KWAL, Cold Solutions, Chandaria Industries, Kim-Fay, Davis & Shirtliff, Copia, FFK, Twiga Foods, and Stecol are among them.
