Two managers of Tatu City developer leave for own ventures

Two senior managers of Rendeavour Kenya, the developer of Tatu City, have left the company and signalled their intention to start their own ventures in the real estate sector.

The two are Stephen Wilson, the company head, and Fomina Ksenia, the development manager.

“I am writing to inform you on Stephen’s and my departure from Tatu City. Our exit is entirely amicable,” Mr Ksenia wrote to some Tatu City clients, who the duo had been dealing with, in an email seen by the Business Daily.

“We decided to leave the company to undertake other business opportunities in a more direct development work and structure construction,” the email further reads.

Their exit comes at a time when the backers of Tatu City are keen on taking the project forward even as they fight court battles pitting major shareholders against each other.

READ: Tatu City companies pull out of Sh240bn legal battle

Tatu City’s founder and CEO Stephen Jennings on Tuesday, during a media tour and ground breaking ceremony, said the legal battles had not hurt investors’ interest in the project.

“Tatu City is about entrepreneurs and entrepreneurship targeting both growing and established business that will have an economic value to Kenyan communities through business opportunities and global markets at large,” said Mr Jennings.

Rendeavour, the biggest shareholder in Tatu City, is majority owned by Mr Jennings.

Tatu City’s industrial park has of late been attracting a lot of investors despite the controversy surrounding the ownership of the vast land.

Consumer goods manufacturer Unilever East Africa recently announced plans to acquire a 70-acre piece of land where it is expected to build a new factory.

It joins Thika-based Bidco, which acquired a 78-acre piece of land at the same location with plans to build warehouses and factories.

SOURCE: BUSINESS DAILY