Trade and Industry Cabinet Secretary Moses Kuria has gazetted Two Rivers Mall as a Special Economic zone.
The CS in a gazette notice dated June 14 gave the famous shopping mall the status in a move aimed at turning around Kenya's economic landscape.
"In exercise of powers conferred by Section 4 (1), of the special economic zone Act, the Cabinet Secretary for Trade, Industry and Investment declares land specified in the schedule hereto to be a Special Economic Zone," the Gazette Notice read in part.
"Part of the land known as Tile Number LR No. 22/165, originally 22/360 measuring approximately 35.089 hectares (64 acres) or thereabouts, situated in Nairobi County."
CS Kuria termed the move a giant milestone for Africa's global investment.
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"The gazettement of Two Rivers International Financial Center as a Special Economic Zone marks a giant milestone in the development of Kenya's Economic Landscape and a major boost for Africa's global investment profile."
Two Rivers Mall is part of a Ksh25. 1 billion development by Centum Group, which is majority-owned by the late billionaire Chris Kirubi.
A Special Economic Zone is a designated and declared area, gazetted for the purpose of undertaking SEZ activities while enjoying special economic regulations.
