RENDEAVOUR: AFRICA’S LEADING NEW CITY BUILDER

As Featured in The Economist, January 2024

Africa’s urban population has not just grown but trebled since 1990, a staggering statistic that underscores the potential for business and investment opportunities on the world’s youngest continent. Over the next 26 years, this growth may expand by another 900 million people. By 2100, five of the world’s seven most populous cities could be African, a testament to the continent’s rapid urbanization.

These are just a few facts from the Economist article “Can satellite cities help solve Africa’s urbanisation challenges?”

In a two-page feature on the subject, the leading UK business magazine illustrates the successes and failures of building new African cities.

According to the Economist, Rendeavour’s development in Tatu City in Kenya stands out as a successful model amidst a litany of projects that haven’t delivered on their promises. Tatu City’s success story is a testament to the potential for profitable, private-sector investments in African urbanization.

Article highlights:

  • ”Strong governance, coupled with fiscal incentives, is intended to attract investment, the benefits of which will ripple through the economy.”
  • “In a state like Kenya, where property rights are flimsy and bureaucracy arbitrary, Tatu City offers comforting predictability. It is a sort of haven in the jungle.”
  • “Initiatives led by the private sector are disciplined by the market. If they don’t make it work, they go out of business.”
  • “Infrastructure matters. Tatu City boasts its own water supply, energy grid and internet network.”
  • “With 23,750 people already living, working, and studying there, Tatu City is home to global-scale enterprises:
    • CCI Global, a global leader in the BPO industry, is building a 5000-seat call centre at Tatu City.
    • Zhende Medical plans to invest USD 180 million in Kenya, employ 7,000 Kenyans, and export USD 320 million annually to its global clients.”

Ready to join us on this transformative journey? Leave your contacts to download the full Economist article about how Rendeavour is shaping the future of African urbanisation.

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