Centum Investment’s 2,000-acre Vipingo Special Economic Zone (SEZ) in Kilifi County has received a major financial boost, with KCB Group and African Export-Import Bank (Afreximbank) committing a combined $800 million (Sh103.34 billion) to support businesses operating within the park.
Afreximbank will provide $500 million (Sh64.6 billion) to support core infrastructure development, building on its ongoing partnership with ARISE IIP, Centum’s joint venture partner in the SEZ. KCB will contribute $300 million (Sh38.7 billion), which will largely be directed toward trade facilitation and offering investors competitive financing to establish manufacturing, agro-processing, logistics and value-addition operations.
“This funding is an opportunity to transform Vipingo SEZ into a hub where export-oriented industries can thrive, leveraging shared infrastructure, economies of scale and access to global markets,” said KCB chief executive Paul Russo during the signing of a memorandum of understanding between the two lenders.
Oluranti Doherty, Afreximbank’s Managing Director for Export Development, highlighted the role of SEZs in driving industrial growth across Africa.
“Special Economic Zones are powerful engines for industrialisation, export growth and economic diversification. Through this financing framework, we will not only enable enterprises to scale but also support the creation of sustainable supply chains that uplift local communities and drive regional integration,” she said.
Vipingo SEZ was officially granted its status by the Ministry of Investments, Trade and Industry on November 29, 2024, affirming the coast region’s position as a growing hub for zones designed to attract investment and expand exports.
Kenya now hosts 39 licensed Special Economic Zones, with 10 located within the coastal economic bloc.
SEZs provide unique incentives and regulatory frameworks to encourage both local and foreign investment, helping create jobs and stimulate economic activity.
