This archive report was first published on 22 June 2021.
Kenya's first smart city, Konza Technopolis, is offering an early bird incentive to investors who commit to developing land in the city. The incentive is part of the government's efforts to support investors and realize the dream of Konza.
According to the Principal Secretary Ministry of ICT & Innovation, Mr. Jerome Ochieng, the offer is applicable to investors who complete the stand premium payment on or before 31st December 2021. The government has allocated Ksh 18 billion for the project in the 2021/2022 Financial Year's budget, which will majorly go towards the development of horizontal infrastructure and key utilities at the Technopolis.
During an investor conference hosted by the Authority, investors who have made payments for their parcel of land were given access to the property. Among the investors issued with access include Kenya Electricity Transmission Company Limited (KETRACO), National Construction Authority (NCA), Sosian Energy Ltd, Bigen Global Ltd, Vijay Sandhu, Geonet Technologies, GS1 Kenya Limited, Makueni Housing Cooperative, and Parklands Baptist Church.
The 400 acres of Phase One of the project has attracted more than 40 percent uptake by investors. The government's commitment to support investors is reinforced by its actions, including the recent budget allocation for the year 2021/2022. The Principal Secretary noted that the government has set aside over 70 percent of the budget for the development of this project.
Already, the project's anchor investor, Kenya Advanced Institute of Science and Technology (KAIST), is on-site. The graduate school will focus on Science, Technology, Engineering, and Mathematics (STEM) and will admit its first lot of students in 2023. Upon its completion in 2030, Konza Technopolis is expected to position Kenya as a knowledge-based economy and a preferred Science, Technology & Innovation (ST&I) destination.
