Centum and ARISE partner to launch $3 billion Special Economic Zone

Vipingo Special Economic Zone is a 2,000-acre industrial hub designed to lower costs, streamline operations, and maximize profitability. [Courtesy]

Centum Investment Company PLC has entered into a partnership with ARISE, a prominent developer of industrial ecosystems in Africa, to launch a $3 billion (Sh387 billion) initiative aimed at creating 500,000 jobs at the Vipingo Special Economic Zone (VSEZ) on the Kenyan coast.

The agreement, which involves the development of a 2,000-acre site recently designated as a Special Economic Zone (SEZ), promises to transform Kenya into a competitive industrial hub.

Dr James Mworia, CEO of Centum, said the partnership will leverage ARISE's expertise in managing industrial zones to develop the VSEZ into a manufacturing, logistics, and business park.

While emphasising the significance of the project, Mworia said, "Vipingo SEZ is a transformative project that will create jobs for thousands of our youths and showcase Kenya as a top investment destination."

He said the initiative follows the gazettement of the area as an SEZ in November 2024, which aims to attract investment and foster industrial growth.

Gagan Gupta, Founder and CEO of ARISE Integrated Industrial Platforms, said that the firm was honored to announce this ambitious development agreement, marking a key milestone for expanding our industrial model in East Africa."

The VSEZ is strategically located 42 kilometers from Mombasa and will provide direct access to major shipping routes, enhancing connectivity with Tanzania.

It is projected to draw international investments totaling $3 billion, generating both direct and indirect employment opportunities. The park will include various high-growth sectors such as automotive, pharmaceuticals, and agro-processing.

The project promises a sustainable business environment featuring modern infrastructure and amenities. With plans for residential areas, commercial spaces, and a logistics zone, the VFTZ aims to cater to a diverse range of industries while fostering regional economic growth.

In a statement, Mworia expressed gratitude to the national and Kilifi County governments for their support in realizing this ambitious venture, setting the stage for a new era of industrial development in East Africa.