Stephen Jennings speaks on the outlook for Africa & Kenya
Stephen Jennings, founder and CEO of Rendeavour, the owner of Tatu City, spoke at the MindSpeak session hosted by Aly Khan Satchu on 9 June at the Sankara Hotel in Nairobi.
Jennings’ analysis of the economic prospects of Kenya and Africa, drawing on more than 25 years of living and investing in emerging and frontier markets, transfixed the standing-room-only crowd of three hundred.
Jennings also revealed the full story of Tatu City, including the attempts by minority shareholders to thwart the project and extort Rendeavour’s investors. Jennings noted that any project of the size and scale of Tatu City will have legal challenges, and he remains confident that the spurious legal cases filed against Tatu City’s majority owners will be dismissed or decided in their favour. None of Rendeavour’s other real estate developments – in Nigeria, Ghana, Democratic Republic of Congo and Zambia – face the challenges of Tatu City, Jennings said, encouraging business leaders and the young generation of Kenya to ensure continued economic growth by demanding improvements to Kenyan government institutions.
The session was followed by cocktails sponsored by Tatu City partners Maxam, distributor of Heineken in Kenya and a future resident of the Tatu Industrial Park, and Leleshwa wines and Out of Africa nuts, owned by Tatu City Limited board director and prominent businessman Pius Ngugi.