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Tatu City, Equity Bank ink deal for property purchase

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Equity Bank and Tatu City have entered into a financial arrangement that avail various financial solutions to customers seeking to acquire assets within the mixed-use Special Economic Zone.

Under the deal, the giant lender will facilitate customers for land purchases, construction loans for houses and companies on acquired plots and mortgages for existing properties within Tatu City.

“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,” said Stephen Jennings, CEO of Rendeavour, the owner and developer of 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.

“This strategic partnership with Tatu City aligns with our dedication to drive socio-economic transformation across Africa. By providing tailored financial solutions, we are looking at empowering individuals, businesses and communities to harness the immense opportunities presented in Tatu City,” added Humphrey Muturi, Equity Bank Kenya Commercial Director.

The 5,000-acre mixed-use SEZ currently has at least 75 companies with a total workforce of 9,000.

Business operating within the SEZ enjoy VAT zero-rating, import and stamp duty exemptions and 10pc corporate tax for the first 10 years and 15pc for 10 years thereafter.