The Korean Exim Bank has signed two agreements with the Kenyan government to invest more than KShs 30 billion in the Konza Technopolis in Machakos County.
- The deal was signed by Foreign Affairs PS, Abraham Sing’oei and the Executive Director of the Exim Bank, Hwang Kiyeon – during the Korea-Africa summit that President William Ruto and other state leaders are attending in Seoul.
- The money will be used to establish a Digital Media City that would occupy 160 acres of land in Konza.
- The Digital Media City will be equipped with crucial infrastructure for music production, post-production, media training, and filming for creatives looking for a big break into the digital economy.
“The Creative sector in digital era presents a great opportunity for Kenyan creatives to scale their talent and creative skills to the world map,” said Dr. Abraham Sing’oei, Principal Secretary of Foreign Affairs.
The Digital Media City project was conceived in the last two years, with feasibility studies for the project finalized in January 2023. This included an environmental and social impact assessment to determine the viability of the project and cumulative costs.
Since its commissioning in 2009 and launch in 2013, the Konza Technopolis has envisioned itself as the country’s future hub for science, technology, and innovation. It has invited investments from companies in the media, research, and the ICT space to invest.
Despite its ambitious promise, the Konza City project has not lived up to its initial goals. Conceptualised as Kenya’s version of the Sillicon Savannah, the development missed its initial targets, with both local and global tech companies choosing to set up operations in Nairobi instead.
Seoul has emerged as a critical partner in reviving the project, funding and designing the Kenya Advanced Institute of Science and Technology (KAIST) in 2021 on 22 acres within Konza. Other projects include a data centre and a 400-kV power substation funded by Kenya and China.
