Business

Tatu City woos Somali business leaders with investment opportunities

Guests attend a Tatu City luncheon for the Somali community at the MAA Hotel in Hurlingham, Nairobi, on June 23, 2024. (Photo: Abdirahman Khalif)

By Abdirahman Khalif | Sunday, June 23, 2024

Highlighting the city's infrastructure and amenities, CEO Stephen Jennings told The Eastleigh Voice that they were ready to welcome the Somali community

Somali business leaders were given an overview of Tatu City and the benefits of investing in this special economic zone at a luncheon on Sunday, hosted by founder and Chief Executive Officer Stephen Jennings.

Somali ambassador Jabril Ibrahim Abdulle and developers from Nairobi were among the guests at the Somali Business Leaders Luncheon held at a hotel in Nairobi.

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Tatu City is a 5,000-acre special economic zone located in Ruiru, Kiambu County, 20 kilometres north of Nairobi's central business district.

Tatu City CEO Stephen Jennings addresses guests at Tatu City's Somali Business Leaders Luncheon at the MAA Hotel in Hurlingham, Nairobi, on June 23, 2024. (Photo: Abdirahman Khalif)

Highlighting the city's infrastructure and amenities, Jennings told The Eastleigh Voice that they were ready to welcome the Somali community. He also noted that the value of land there increases every six months.

"We will create a home and a hub for the Somali community, including a mosque, school, and hospital. We have the best infrastructure and amenities in East Africa. They should come here."

Jabril commented on the improved relations between Kenya and Somalia, now that Somalia is part of the East African Community (EAC) and that the two countries were implementing measures to facilitate easier movement of people and investments.

"The movement of people between the two countries, obtaining visas, and licencing to operate businesses are becoming more streamlined. This is creating a conducive environment for businesses and investment."

Tatu City is designed to accommodate more than 250,000 residents and tens of thousands of day visitors. It includes homes, schools, offices, a shopping district, medical clinics, nature areas, a sports and entertainment complex, and a manufacturing area.

Schools and businesses are already operating and there is a range of homes suitable for all incomes.

Currently, only 1,000 acres of the total 5,000 acres have been developed and the entire city is expected to take approximately 50 years to complete.

As Kenya's first operational special economic zone, Tatu City offers several benefits, including reduced corporate taxes, zero-rated VAT, and import duty exemptions.

The event came a month after members of the Eastleigh Business District Association were hosted at the Konza Technopolis. Led by Chairman Ahmed Abdullahi, they pledged to create "another Eastleigh" there, referring to the business hub reported to contribute at least 30 per cent of Nairobi's revenue.