Rwanda’s Prime Minister Edouard Ngirente says the Kigali Innovation City (KIC) is set to have a Pan-African development impact both in terms of economic and human capital.
PM Ngirente was presenting Rwanda’s flagship project to institutional investors as well as regional and international development finance institutions on the margins of the Africa Investment Conference underway in South Africa.
Kigali Innovation City (KIC) is a Private Public Partnership between the Government of Rwanda and Africa50. The KIC project consists of development and financing of a Digital Innovation Zone including Commercial and Retail complexes.
A session jointly organised by Africa50 and RDB to showcase the Kigali Innovation City (KIC) was held on the margins of the Africa Investment Conference today. KIC is a Private Public Partnership between the Government of Rwanda and Africa50. pic.twitter.com/uGk8Cw39D9
— Rwanda Development (@RDBrwanda) November 7, 2018
“Kigali Innovation City forms part of the Government of Rwanda’s Vision 2020 development program and National Strategy for Transformation 2017-2024. It is one of the projects that aims at establishing Rwanda as a globally competitive knowledge based economy” Ngirente said.
The KIC project will not only benefit Rwanda, the Premier noted, but will also play a leading role in Africa’s transformation.
“This is an innovative effort, the first of its kind on the continent. It will have Pan-African development impact both in terms of economic and human capital.
For instance, Kigali Innovation City is expected to create over 50,000 jobs annually. Our aim is to build a critical mass of talent, research and innovative ideas that will transform Africa” Ngirente said.
Following the session with investors, a cooperation agreement was signed between the Government of Rwanda and Africa50.
The parties will complete early stage project development activities and negotiate a binding Joint Development Agreement.
Kigali Innovation City will be an Africa-focused innovation hub and a holistic ecosystem of technology clusters. The key components of the project include:
- Industry Innovation Academy for industry-specific skills development;
- Local and international tech companies co-located in KIC and collaboration with global tech companies around the world;
- Access to finance for companies at different growth stages;
- Pan-African talent: Four premier higher learning institutes located in KIC attracting talent from across Africa
The first ever Africa Investment Forum is taking place now in Johannesburg. Billions of USD investment deals expected. Yesterday, the Kigali Innovation City project attracted interest of many investors. pic.twitter.com/OMSNmtm6tZ
— Uzziel Ndagijimana (@undagijimana) November 8, 2018