Lessons for Kenyan entrepreneurs from Two Rivers

Two rivers artist impression

NAIROBI: In the last five years, there have been indications that Kenya is going global. The most obvious sign has been the increasing business interest from international brands looking to set up in Africa and choosing Nairobi as a destination and launch pad.

Developments in the real estate sector have put into perspective just how sought after Kenya is. One of the latest developments is Two Rivers, arguably the biggest construction project in East and Central Africa.

On completion, the 102-acre project will become the second destination mall in Nairobi. The first is the 32-acre Garden City, which completed its first phase and opened its doors to the public in May.

Here are some of the lessons entrepreneurs can take away from Business Beat's visit to Two Rivers.

1. THINK GLOBAL, ACT LOCAL

According to Knight Frank's 2015 report on Africa, since 2000, the continent has had an average growth of over 5 per cent per annum, with the Sub-Saharan region averaging growth of close to 6 per cent.

The larger emerging economies of this region, such as Nigeria, Kenya, Angola and Ethiopia, have been key drivers of the continent's growth.

Two Rivers is being developed by Athena Properties, which is a wholly owned subsidiary of Nairobi Securities Exchange-listed Centum Investment Company.

The mixed-use real estate development firm — whose average staff age is 27 — has looked inward for growth, and its move is backed by solid numbers.

Kenya is East Africa's largest economy, with a gross domestic product of $62.7 billion (Sh6.4 trillion). The country is also ranked a middle income nation, following a recalculation of the value of the goods and services it produces in 2014, which made it the ninth-largest economy in Africa.

These figures illustrate that spending power is on the rise, and with it, demand for international products from a customer base exposed to global brands.

Two Rivers' retail mall, which will occupy 11 acres and is already 62 per cent let, will host several international stores, some of which will be flagships for Africa, and others for East Africa.

Source: Lessons for Kenyan entrepreneurs from Two Rivers