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SIB to spend Sh3bn on new Nairobi headquarters
From left; CBRE Excellerate Country Manager Ryan Pape, Director at Esteel Construction Ltd Manu Bhudia, Standard Investment Bank Founder and Managing Director James Wangunyu, Father in Charge of Consolata shrines in Westlands Fr. Joseph Musito and Bowman Associates (BAA) Director Tom Bowman look on as a backhoe loader is operated during the ground breaking ceremony of SIB International Centre, an iconic building by Standard Investment Bank (SIB) in Nairobi Westlands on December 8, 2025.
Standard Investment Bank (SIB) is investing Sh3 billion in a new headquarters in Westlands, Nairobi to support its growth in Kenya’s financial sector.
The proposed 32-floor SIB International Centre will serve as a hub for the firm’s growing operations, housing trading desks, advisory teams, and wealth management experts.
It will provide a modern, sustainable workspace to enhance operational efficiency and accommodate the bank’s growing needs.
“We are not simply breaking ground for a new building; we are laying the cornerstone for the next generation of excellence in Kenyan and African investment banking," said Mr James Wangunyu, founder and managing director at SIB.
"As these walls rise, and the apex of this building is achieved, so too must our ambition to build not just a head office, but a headway for the next generation of African financiers, innovators, and visionaries."
The investment bank has been leasing space for its head office at the JKUAT Towers along Nairobi's Kenyatta Avenue.
Scores of financial services firms have shifted their headquarters from Nairobi’s Central Business District to more expansive areas in the outskirts of the city, such as Westlands and Upper Hill.
They include Sanlam Allianz Kenya, Standard Chartered Bank Kenya. Insurers in particular have built new head offices to house their operations besides leasing some of the space to tenants.
Britam invested more than Sh6 billion in a 32 floor tower in 2020 in Upper Hill, leading to the creation of 350,000 square feet of lettable space and about 1,000 parking bays, making it one of the largest office blocks in the area.
With rising property costs and congestion in the CBD, businesses are seeking more cost-effective, spacious, and strategically located office spaces.
Areas like Westlands and Upper Hill have seen a surge in demand, attracting institutions looking for modern facilities that offer room for growth.
These buildings are ideal for corporations, financial institutions, and professional services firms seeking office spaces.
Standard Investment Bank (SIB) earned Sh1.4 billion in fees from its Mansa X Special Fund in 2024, driven by strong growth in assets and reinvestments by clients.
According to the bank’s disclosures, fees from the four Mansa X sub-funds rose by 68.4 percent compared to 2023, when SIB earned Sh874.4 million.
The bank charges a fee of five percent on the assets under management (AUM) of these funds, excluding any applicable taxes.
SIB said the expansion aligns with its mission to bring sophisticated financial services closer to underserved markets, including diaspora-linked investors and emerging high-growth regions.
