Konza City team now rolls out investment campaign
Posted Wednesday, August 1 2012 at 18:22
The campaign to woo local investors and outline how they can partner with foreign firms to invest at Konza Technology Park kicks off on Tuesday.
The conference will bring together investors from Europe, US, Asia and Africa and comes when the ground breaking ceremony of the $10 billion (Sh800 billion) project is expected within the next three months.
Previously, the government has been marketing the multi-billion project modelled on the Private Public Partnership (PPP) abroad. But the Information Permanent Secretary, Dr Bitange Ndemo, said there was need to have the forum to raise the level of interest locally.
Dr Ndemo said 60 per cent of the investments opportunities in the first phase of the project have been booked by foreign firms.
The foreign investors are intending to put their money in hospitality industry, learning institutions, Business Process Outsourcing and Information Technology Services (BPO/ITES), among others.
“We will be holding the conference to outline the progress of the project but most importantly, to inform Kenyans what investment opportunities are they and how they can go about it to put their money,” said Dr Ndemo.
“We don’t what a situation where Kenyans will say they were not aware of the project after all the investment opportunities have been snapped by outsiders,” he added.
Dr Ndemo said Kenyans will need to transform their chama’s (groups) into investments or equity funds to raise the required capital, which he said on a minimum level would range between Sh340 million to Sh840 million.
The ground breaking for the project was supposed to take place last April and the Information ministry says the delay was caused by the need to re-plan the areas where the park is sitting. A legal notice creating the Konza Authority also took longer than necessary.
In the PPP initiative, the government offers land, legal backing and architectural plans to investors to build business process outsourcing (BPO) ventures, a science park, shopping malls, hotels, international schools and health facilities.
Successful execution will make Konza technology city Eastern Africa’s first and only technopolis — a city built specifically for technology firms.