$300 Million Kigali Innovation City Project Launched In Rwanda
The Prime Minister of Rwanda, Dr. Edouard Ngirente, has launched the $300 million Kigali Innovation City (KIC) Project.
The KIC Project, launched on Tuesday, September 10, 2024, is aimed at making Kigali, the capital city of Rwanda, Africa’s innovation hub, boost Rwanda’s ICT exports by $150 million, and create at least 50,000 jobs.
KIC is being developed to be a mixed-use, master-planned, innovation city. The project will be situated on 60 hectares of land in Kigali.
The Kigali Innovation City will among other things, seek to facilitate the development of pan-African talent and act as a technology innovation hub.
The plan for the KIC includes universities, office spaces, and start-up business incubators, alongside supporting facilities for retail, hospitality and accommodation.
Africa50 is co-sponsoring the KIC Project along with the Rwanda Development Board.
The Rwandan Government has agreed to provide the shared infrastructure and the needed incentives that would enable the innovation hub to thrive.
On its part, Africa50 will structure the KIC project as a Public Private Partnership (PPP) together with a strategic sponsor (to be selected), with other investors expected to join at a later stage.
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