Kenya has secured $485 million (Ksh.63 billion) in concessional funding from South Korea’s – Korea Exim Bank and part of it is for the development of Konza Digital Media City.
Konza, located in Machakos County, will receive $238 million (Ksh.30 billion) in funding.
The deal was signed Tuesday during the Korea-Africa summit, which was attended by Kenya’s President William Ruto in Seoul, South Korea.
President Ruto said the Konza Digital Media City project will boost Kenya’s digital ecosystem, aligning with the government’s initiative to expand digital and creative economy opportunities for young people at the Konza Technopolis.
“This project will provide an excellent digital media and entertainment ecosystem for research, training, and the propagation of new technologies,” Ruto stated.
Commissioned in 2009 as a flagship project under Kenya Vision 2030, the Konza Technopolis will also host the Konza Campus, a shared ICT platform for educational institutions, both local and international.
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The media hub will play anchorage in the development of the creative and cultural sectors and a comprehensive ecosystem for training, research, and innovation in digital media and entertainment industries in Kenya and Africa at large.
This funding is part of Kenya’s broader strategy to position itself as a leader in e-government commerce, targeting both government agencies and the private sector.
In 2022, Kenya and South Korea initiated a feasibility study for the Konza Digital Media City project through the ICT Ministry.
The project is being implemented at the Konza Technopolis with financial support from Korea-Exim Bank, South Korea’s official export credit agency.
President Ruto also noted other collaborative projects with South Korea, including the development of Bus Rapid Transit Line 5, the Nairobi Intelligent Transport System (ITS), the dualing of the 78km Machakos Junction-Emali Road, water supply and sanitation projects for the Konza Technopolis, and the Vaccine Production Project.
Kenya hopes that Korea will assist it in maritime development, green industrialization, and manufacturing.
President Ruto is looking to develop Kenya’s semiconductor industry through technology partnerships, infrastructure development, and capacity building with support from South Korea.
