Kenya’s ambitious Konza Technopolis project is set for a major transformation into a cutting-edge film and creative hub, thanks to a Ksh30.8 billion (USD 238 million) loan secured from Korea Exim Bank. The agreement, finalized during the Korea-Africa Summit on Tuesday, June 4, 2024, marks a significant step in Kenya’s technological advancement and collaboration with South Korea.
Key Figures Sign Funding Agreement
Dr. Abraham Korir, Principal Secretary of Foreign Affairs in Kenya’s Ministry of Foreign and Diaspora Affairs, and Hwang Kiyeon, Executive Director and Board Member of Korea Exim Bank, signed the funding agreement. This substantial investment aims to catapult Konza Technopolis into a world-class center for film and creative industries, contributing to Kenya’s growing reputation as a technological innovator in Africa.
Revitalizing an Ambitious Vision
Announced in 2008, the Konza Technopolis project was envisioned as a beacon of Kenya’s technological future, originally slated for completion by 2019. Despite facing delays, the recent funding injection through the Economic Innovation Partnership Program (EIPP) demonstrates a renewed commitment to realizing this ambitious vision.
EIPP: Driving Technological Innovation
The EIPP, an evolution of Korea’s Knowledge Sharing Program (KSP), has already facilitated significant investments in smart farms, incubation complexes, and renewable energy initiatives within the Konza Special Economic Zone (SEZ). The Konza Digital Media City project is the third initiative under the EIPP, following the successful implementation of the Smart City Masterplan and integrated control center.
Sustainable and Eco-Friendly Development
The Konza Digital Media City is set to embody eco-friendly principles, incorporating sustainable features such as double-glazed windows, solar panels, smart lighting, sensor-activated toilet flushes, and rainwater collection systems. These features align with the global shift towards green building practices and underscore Kenya’s commitment to environmental stewardship.
Continued Commitment Amid Challenges
While the initial projections of Konza City contributing $1.3 billion to Kenya’s GDP by 2020 have not been met, the government remains steadfast in its dedication to the project’s completion. Last year, nearly half of the Ministry of ICT’s budget was allocated to advancing Konza Technopolis, and significant portions of this year’s Ksh15.1 billion ICT budget are earmarked for the project.
Detailed Budget Allocations
These allocations include Ksh4.8 billion for Horizontal Infrastructure Phase I, Ksh1.2 billion for the Konza data center and smart city facilities, and Ksh5.7 billion for the construction of the Kenya Advanced Institute of Science and Technology (KAIST) at Konza Technopolis. Additional funds will support the maintenance and rehabilitation of the National Optic Fibre Backbone Phase II Expansion Cable, the construction of Konza Complex Phase 1B, and the Last Mile County Connectivity Network.
Optimism for the Future
With this latest influx of funds and continued international support, the developers of Konza Technopolis are optimistic about the project’s future. The initiative is poised to become a flagship of Kenya’s ICT sector, showcasing the nation’s potential to become a technological powerhouse in Africa.