Kiswishi features at Kenya-DRC Trade Mission
Rendeavour, the owner and developer of Kiswishi SEZ, joined more than 250 business leaders and investors on a trade mission trade mission to Democratic Republic of Congo (DRC), jointly organised by the DRC and Kenyan governments.
DRC is Kenya’s sixth largest international trading partner. In April 2021, during his visit to DRC, Kenyan President Uhuru Kenyatta and DRC President Felix Tshekedi signed a trade and investment agreement, promising to deepen trade ties between the two countries.
At the trade expo in Lubumbashi, Kiswishi SEZ’s expo attracted more than 1,000 visitors. The first private SEZ in DRC, Kiswishi is a new city development zoned for light industrial, commercial, residential, retail, social and recreational facilities.
Kiswishi SEZ benefits include five-years’ renewable exemption of Corporate Income Tax, Minimum Tax, Personal Income Tax, Land Tax, Rental Income Tax, VAT and Customs Duties and Taxes. Additional benefits include a reduction of the Special Tax on expatriate salaries (from 25% to 15%), a 50% reduction in parafiscal taxes and no forex restrictions.
Underlying Kiswishi’s design is a visionary concept aiming to shift urban development in DRC from the familiar single node model to a decentralised urban environment. By doing so, Kiswishi SEZ will significantly de-congest the city of Lubumbashi by offering a unique live, work and play environment.