ICT and Digital Economy Cabinet Secretary Eliud Owalo says
the government will fast-track the enactment of the Konza Bill and give
investors tax-incentives on construction materials to accelerate the
development of smart city.
The multi-billion shillings project currently has 25 investors in the Phase one who have their leases registered, while ten investors' designs have been approved.
Konza Technopolis Development Authority (KoTDA) held a financiers-investor programme last month which was aimed at supporting the investors to overcome challenges such as the high cost of construction materials and long-term affordable financing.
“My presence here today is simply to assure you that the government is committed to develop Konza Technopolis to a world class city. My Ministry is working to ensure that we deliver the Konza Bill to properly anchor the project into law to protect our investor’s interest," said Owalo.
According to Owalo Konza Technopolis will start manufacturing affordable smartphones and computer software in due course as the government continues to pump billions into realization of the project.
Among investors in the project include the Kenya Advanced Institute of Science and Technology (KAIST) which is expected to admit its first students by the end of this year. The construction of the institution is already ongoing in the city.
“At a policy level, we are available to ensure that we have the appropriate policies for the city. We will ensure that from an incentive perspective, there are adequate policies, laws and regulations that will facilitate private sector investment within Konza,” said CS Owalo.
KoTDA acting CEO of John Paul Okwiri noted that they are looking forward to having at least five investors doing their groundbreaking in the next 12 months.
“We are glad with the investment we have made as a city. Looking forward, we are seeking to accelerate our vertical infrastructure development. In the next 12 months, we are looking forward to having at least five investors doing their ground breaking for vertical infrastructure development,” he said.