Kenyan govt seeks investment for technology hub

08/08/2011 - Kenya property & investment news Posted by Bob Brunskill
Kenyan govt seeks investment for technology hub

The Kenyan government has announced that it is seeking investors to finance a $3 billion technology hub near Nairobi, the capital city.According to an official, the move is seen as central to transforming Kenya into a middle income economy within two decades, Reuters has reported.The Kenyan government is calling on financial institutions and real estate developers to take up the project in phases.Bitange Ndemo, permanent secretary in Kenya's ministry of information and communication, explained: "The project will cost about $3 billion ... and that is why we are talking to bankers and giving them various models of financing."This comes shortly after Franck Cohen, president of Systems Applications Products (SAP), said that Kenya has enormous potential to become the undisputed market leader in mobile applications.Speaking at the recent SAP world tour in Nairobi, Mr Cohen announced plans to partner with Kenyan universities in a bid to train specialists in SAP solutions to cater for the increasing demand.