World Bank funding set to boost Kenya's technology sector

04/04/2012 - Kenya property & investment news Posted by Neil King
World Bank funding set to boost Kenya's technology sector
Kenya's technology sector has been given a funding boost after the World Bank said it would be giving a huge grant to the nation.Around Sh4.5 billion will be put towards making Kenya the global leader for mobile phone applications, helping developers create simple solutions for everyday situations.This is likely to create jobs across the country, improve internet access and create an environment for people to create new technology, businessdailyafrica.com reports.Johannes Zutt, the World Bank country director for Kenya, is quoted by the news provider as saying that there are many benefits to be had from technology."Information technology has on average contributed one percentage point to Kenya's growth since 2000, and opened a path for achieving remarkable improvements in transparency and also in governance," he explained.It comes after the International Monetary Fund said last month that the Kenyan economy will improve in 2012, growing by five per cent.