Potential benefits of the upcoming Konza city
H.E. President Kibaki was recently the chief guest during the ground-breaking ceremony of the Konza Technology City.
The government of Kenya revised the project from just an ICT Park to a technology city, widening the scope for investors to include light manufacturing and research services
The technopolis is a flagship project of the Vision 2030. It seeks to establish a hub in Africa where different companies with interest in technology can open offices and industries. The project is expected to take up to 25 years to be completed.
The direct beneficiaries of the tech city are those in the ICT industry. With the coming of the optical fibre and the liberalisation of the economy, Other beneficiaries include building industry suppliers as when construction commences, the project will require cement, tiles, steel and glass, among other building materials.
As the project proceeds, the businesses will need to import ICT equipment. Clearing and forwarding agents at the port and transporters will gain as they serve different companies setting up in Konza.
Konza city is expected to create over 200,000 jobs and create an enabling environment for world-class research, education and business to encourage innovation. Phase One will create about 18,000 jobs. This is a large local market for a wide range of commodities thereby creating indirect incomes for a large number of small businesses.
Further, Konza technology city is expected to take up about Sh850 billion in its development. That is about one third of our current Gross Domestic Product (GDP).
All factors constant, the city can contribute about 10 per cent to our GDP and attract a considerable amount of foreign investment.. Growth means more money and opportunities.
This project is envisaged to empower those who are in business. The onus is on the entrepreneur to prepare adequately in order to be the preferred supplier in one’s industry.
Source: Adapted from Business Daily (Nation Media)
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