Kenya's Konza Technopolis eyes investors

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Kenya's Konza Technopolis eyes investors

Over 80 percent of the land is on offer for the first phase of the Konza Technopolis, which has reignited interest in the technology city that had a false start.

In the current fiscal year, ten of the 26 new investors have already been granted land lease agreements, according to ICT Principal Secretary Jerome Ochieng.

Konza Technopolis is a key flagship project of Kenya's Vision 2030 economic development and is set to become the country's technology and innovation hub and spur the digital-driven economy.

The city is expected to create an estimated 80,000 new jobs in the first four years upon its completion, and is key to Kenya's effort to reduce the high unemployment rate.

80 percent of the parcels have been taken, and investors need to know what is going on. Today, 90 percent of these investors were here to share what their visions are and how we can work together to move ahead, Ochieng said on Tuesday.

The construction of the Kenya Advanced Institute of Science and Technology is the first phase of the development of the project, followed by the Konza National Data Centre and Smart City.

Phase one involves the construction of infrastructure like roads, drainage, and bridges, and the last phase is the Konza Complex.

Phase one sits on 410 acres of land and is distributed into mixed-use 89 acres university 39 acres residential 26 acres and life science 26 acres Other include office space 11 acres retail eight acres cultural community one acre parks 79 acres and transportation and public space 130 acres. The first phase of the techno city is designed to be a mixed-use community, consisting of commercial, residential, public and hospitality. The government is looking for funding from the Exchequer and grants to complete phase one by 2024 and open it up to investors.

The National Treasury allocated 5.2 billion in the financial year starting July to build roads, drainage and other infrastructure. A further Sh 3.8 billion was allocated for the data centre and smart city facilities.

South Korea gave Kenya $6 million Sh 685.86 million in March to fund the construction of transport infrastructure, planning and security installations in the city.