Rwanda will benefit from a $ 400 million investment from the pan-African Africa50 investment fund to finance the ambitious Kigali Innovation City (KIC) project.
Africa50 is an infrastructure investment platform that contributes to Africa’s growth by developing and investing in bankable projects, catalyzing public sector capital, and mobilizing private sector funding, with differentiated financial returns and impact.
According to a statement issued by the institution specializing in infrastructure financing, the new investment will be made under a framework partnership agreement initiated with the Rwandan government at the Africa Investment Forum, held last week in Johannesburg, in South Africa.
The institution should focus on the construction of real estate infrastructure, as well as commercial complexes in the future Kigali Innovation City (KIC).
Now a partner and co-sponsor of the program, the investment platform will also attract new investors and partners to implement the project.
Planned to be built on about 70 hectares a few kilometers from the capital of Rwanda, the KIC is a project of the Rwandan government that aims to create a pan-African technological hub in the country.
With an estimated value of $ 2 billion, the project is expected to eventually create more than 50,000 jobs and generate $ 150 million in exports in the information and communications technology (ICT) sector, in addition, to attract about $ 300 million in foreign direct investment per year.
This project of an “African Silicon Valley” also aims to become a true manufacturing plant of technological entrepreneurs for the continent, through the many universities that will be established there.
Thank you for reading our stories!
Besides news and trends, Regionweek is a media created to serve African young professionals with information that they can put to work in their daily life. Would you like making money with a side hustle business that you can build in your spare time? Today you can learn how to earn extra money and grow meaningful businesses. Check ressources on: