Tatu City has teamed up with Equity Bank Kenya to offer financing solutions for property purchase and construction within Tatu City. Equity Bank Kenya will offer a comprehensive range of investment services tailored to meet the diverse needs of individuals and businesses in Tatu City. The financial products will encompass land purchases, construction loans for houses and companies on acquired plots and mortgages for existing properties within Tatu City.
Commenting on the partnership, Stephen Jennings, the founder and CEO of Rendeavour, the owner and developer of Tatu City, said: “Through this partnership with Equity Bank, we are taking a giant leap forward in facilitating accessible and flexible financing options to cushion homeowners and small and medium enterprises within our dynamic community. We have laid down the infrastructure and supporting amenities and are already welcoming thousands of residents. Our goal is to make moving in and settling at Tatu City even easier.”
(TOP L-R – Founder and CEO of Rendeavour, the owner and developer of Tatu City, Stephen Jennings; Equity Bank Kenya Commercial Director Humphrey Muturi, during the Equity Bank and Tatu City property financing MoU signing ceremony. Looking on is Deputy Country Head of Rendeavour David Karimi; and Equity Bank Kenya Regional Manager for Nairobi West Branches, Stephen Macharia. Equity Bank Kenya will offer financing solutions for property purchase and construction within Tatu City for homeowners and small and medium enterprises).
Equity Bank Kenya Commercial Director Humphrey Muturi said: “This strategic partnership with Tatu City aligns with our dedication to drive socio-economic transformation across Africa. By providing tailored financial solutions, we aim to empower individuals, businesses and communities to harness the immense opportunities presented in Tatu City.”
More than 9,000 people currently work at more than 75 businesses in Tatu City, including Dormans, Copia, Cooper K-Brands, Grit Real Estate Income Group, Twiga Foods, Freight Forwarders Solutions, Friendship Group, Davis & Shirtliff, Kenya Wine Agencies and Roast by Carnivore. Crawford International School and Nova Pioneer educate more than 3,500 students daily, and more than 4,000 people live in Unity Homes apartments and the Kijani Ridge premier neighbourhood.
Business benefits at Tatu City include VAT zero-rating, import and stamp duty exemptions and 10% corporate tax for the first 10 years and 15% for 10 years thereafter.
Tatu City is a 5,000-acre new city on Nairobi’s doorstep with homes, schools, businesses, a shopping district, a medical clinic, nature areas, and recreation for more than 250,000 residents and tens of thousands of day visitors. Tatu City’s schools educate thousands of students daily, a range of homes suits all incomes, and more than 70 businesses thrive in the country’s first operational Special Economic Zone. Located 30 minutes from Westlands, Tatu City represents a new way of living and thinking for all Kenyans in a live, work, and play environment free from traffic congestion and long-distance commuting.
Equity Bank Kenya is the largest bank subsidiary of Equity Group Holdings with a footprint of 191 branches spread across the country and is supported by over 44,532 agents, 26,167 merchants, over 945,000 Pay With Equity (PWE) Merchants and 375 ATMs. Equity Group Holdings is a financial services company listed at the Nairobi Securities Exchange, Uganda Securities Exchange, and Rwanda Stock Exchange. In addition to Equity Bank Kenya, the Group has banking subsidiaries in Rwanda, Uganda, Tanzania, South Sudan, DRC, and a Commercial Representative Office in Ethiopia; with additional non-banking subsidiaries engaged in the provision of investment banking, custodial, insurance agency, philanthropy, consulting, and infrastructure services.
Equity Group is the largest bank in the region with market capitalization of Ksh.167.0 billion. It has an asset base of Kshs 1.645 trillion, deposits of Kshs 1.2 trillion and a customer base of over 18.4 million. The Group has a footprint of 360 branches, 67,622 agents, 35,468 merchants, 681 ATMs and an extensive adoption of digital banking channel.