Amica to build Sh1.2bn mall in Kenol town


Jun 27, 2017

Amica Savings and Credit Services will construct a Sh1.2 billion shopping mall in Kenol town, the fastest growing commercial centre along the busy Nairobi-Nyeri highway.
The proposed Amica Business Centre (ABC) is set to change the property landscape of the region as the institutions seeks to diversify its revenue stream and improve a return on the members’ savings.
“The mall to be erected on a 3-acre piece of land has attracted some of the finest local, regional and global retail brands,” said Board chairman, Hiram Mwaniki.
Mwaniki said that the mall, which is projected to be complete in two years’ time will give members an opportunity to own property along the busy highway.
“To actualise this dream, Amica has offered 15,000,000 shares to the members and selected groups of investors,” he said.
Some of the businesses the mall targets include a supermarket, petrol station, pharmacies, ATM lobbies eateries and office spaces to cater for different needs.
Speaking during the Saccos 19th Annual Delegates Meeting, Chief Executive Officer, James Mbui encouraged members to buy shares, arguing that they stand to benefit from the investment.
“Return from the investment will boost the dividend payout to our members and we will manage it on your behalf as you engage in other activities,” he noted.
Mr Mbui said the mall, which will be located in a strategic position, will boost the image of the Sacco and enhance its performance. – Azael Masese.

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