Capital FM is moving from its iconic Lonhro House headquarters in the Nairobi CBD after 26 years. The station moved into Lonhro House in 1996.
The 52-year old Mary-Ann Musangi, daughter of the late business mogul Chris Kirubi, has owned the station since the tycoon’s passing in 2021 aged 80, alongside various other Kirubi assets.
Capital FM, one of the country’s most popular urban stations, is set to move to Two Rivers, which is associated with Centum Investments – a company in which Kirubi was the single largest individual shareholder. Chris Kirubi owned a 31-percent stake in Centum Investments. The stake is today held by his son, Robert Kirubi, and daughter, Maryann who inherited 80 percent of his fortune – including stakes in KCB Group, Haco Industries and Bendor Estate Limited among other companies.
The Two Rivers development is one of the biggest investments in the Centum portfolio. It includes one of the region’s largest malls, commercial spaces, residential buildings and the Two Rivers International Financial Centre.
The move to Two Rivers is expected to offer Capital FM a more modern studio and office location, with the Lonhro House studios having previously faced criticism for being dated.
The move to Two Rivers notably comes a few months after the gazettement of the Two Rivers International Financial Centre as a special economic zone, which offers companies operating from it special benefits including tax breaks and exemption from various levies.
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Instructively, media companies were among companies being targeted by Two Rivers to tap into the special economic zone, which describes itself as the country’s only special economic zone focused on the professional services sector.
With the SEZ, Two Rivers Financial Centre targets global, regional and Kenyan service-oriented businesses. The SEZ sits on 64 acres, part of the larger Two Rivers Development.
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