Rendeavour, Tatu City’s developer and Konza Technopolis have entered into a partnership with the aim of attracting foreign investors to the country.
The partnership is expected to focus on building both mega-project investment policies and positioning the two cities at vantage positions for both local and international investors as the economy tries to improve following the disaster left by the ongoing Covid-19 pandemic.
According to Preston Mendenhall, Rendeavour’s executive vice president, the partnership will bring about new opportunities that are greatly needed currently.
“We are excited as Tatu City to be visiting Konza today. As sister cities with a common goal of easing the burden of urbanization in Kenya and also promoting investment in Kenya, we shall be working together in creating these opportunities,” he said.
Additionally, Mr Mendenhell also said that as the two are Special Economic Zones (SEZ), they had identified a number of common interests to attract investment in Kenya.
“We have agreed to increase the frequency of our meetings. We have appointed teams to particularly look into the operationalisation of the Special Economic Zones to attract local and foreign direct investments by creating a favorable economic environment,” he said.
On the other hand, John Tanui, KoTDA’s CEO said that the collaboration will address mutual smart cities issues on continuing to improve the ease of doing business in Kenya.
“By Konza being a Special Economic Zone as Tatu is, we are both very keen to attract investment in Kenya. Tatu City and ourselves are very ready to collaborate with other government and private agencies to attract more investment in our country,” he said.
The two entities are expected to share experience and insights thus helping each other in providing solutions towards building stronger strategies to attract investment in the country. For instance, with the Konza National Data Centre being operational at Konza, both entities can benefit from the resources as they look forward to more collaborations with other partners and agencies outside Kenya.
Both Tatu City and Konza City are building on 5,000 acres, each with mixed-use developments, including homes, schools, offices, medical centres, nature parks, and sport & entertainment complexes.