Africa50 has partnered with the Rwandan government to build a 61-hectare smart city named Kigali Innovation City in Kigali, Rwanda. The project will be developed, operated, and commercialized by Africa50 with financial support from the Arab Bank for Economic Development in Africa.
Project Overview
The Kigali Innovation City (KIC) is a master-planned project that will encompass residential, commercial, retail, and educational assets. The city aims to serve as a technology innovation hub for Rwanda and Africa. It will host four STEM-focused universities, global technology companies, startup incubators, and other technology entities.
Economic Impact
The Rwanda Smart City Project is projected to generate $150 million in ICT exports annually, attract over $300 million in foreign direct investment, and create more than 50,000 jobs upon completion. Educational institutions like Carnegie Mellon University Africa and the Africa Leadership University will be integral to this ecosystem, contributing to the development of tech-savvy entrepreneurs and professionals.
Statements from Key Figures
- Uzziel Ndagijimana, Rwanda’s Minister of Finance and Economic Planning, remarked: “This milestone is exciting as this is one of the flagship projects in Rwanda, and part of our strategy and ambition to build a knowledge-based economy. We will move speedily to implement and execute the agreed roadmap, with full support from the Government of Rwanda.”
- Alain Ebobissé, CEO of Africa50, commented: “This signing is a pivotal moment in the development of KIC, bringing us closer to delivering a transformative tech community to Africa that delivers new skills and jobs and positively changes lives.”
Conclusion
The agreement between Africa50 and the Rwandan government marks a significant step towards creating a vibrant technology hub in Kigali. The Kigali Innovation City is set to drive economic growth, attract substantial foreign investment, and create thousands of jobs, solidifying Rwanda’s position as a leading innovation and technology center in Africa.
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