Konza Technopolis Development Authority (KoTDA) is seeking to partner with the Nairobi Securities Exchange (NSE) to connect investors with viable tech start-up businesses that are being incubated by KoTDA.
The development was announced today, following a meeting with NSE Chairman, Mr. Kiprono Kittony, and KoTDA Chief Executive Officer, John Tanui.
Reportedly, the Authority is keen on partnerships with organizations that will support KoTDA to nurture local tech start-up firms to grow and commercialize their ideas.
“KoTDA is focusing on creating partnerships that will help Kenyan tech start-up companies to grow into global entities. This is in line with the Knowledge Economy and Innovation pillar of KoTDA’s second strategic plan (2021-2025) which seeks to Convene, Connect and Catalyze a conducive environment for technology start-ups and SMEs to thrive and scale in partnership with other actors in the Innovation Ecosystem. We look forward to more engagement with the NSE to help achieve this strategic objective,” said Eng. Tanui.
KoTDA CEO added that the Authority is also evaluating the funding models that can be created in partnership with the NSE to support Kenyan tech start-ups to raise capital and enable more Kenyans to participate in the development of the Konza Technopolis.
“Real Estate Investment Trusts (REITS) are among the funding models KoTDA is considering to tap into as we engage the NSE. Our aim is to ensure that at least 90 percent of the investment in Konza Technopolis is derived from the private sector,” said Eng. Tanui.
On his part, NSE Chairman, Mr. Kiprono Kittony hailed the progress made in the development of the Konza Technopolis. Adding that Konza Technopolis has the potential to enable Kenya’s economy to leap forward into the status of an emerging market for foreign investors looking to invest in Kenya.
“Kenya is currently considered a frontier market. For Kenya’s economy to leap forward into the emerging market status, we need to create more investment opportunities that will attract global investors to Kenya. As one of Kenya’s flagship economic projects under the Kenya Vision 2030, Konza Technopolis has what it takes to grow Kenya’s economy and position it for more Foreign Direct Investment,” said Mr. Kittony.
The NSE Chairman was accompanied by the NSE Chief Executive Officer, Mr. Geoffrey Odundo, and the NSE Chief Business Officer, Mr. Terrence Adembesa.