The Konza Technopolis Development Authority (KoTDA) is seeking to partner with the Nairobi Securities Exchange (NSE) with an aim of linking investors with startups currently incubated at the KoTDA.
The new development was announced during a meeting between NSE Chairman, Mr. Kiprono Kittony, and KoTDA Chief Executive Officer, John Tanui earlier this week.
“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.
According to KoTDA, the authority is exploring various funding models that can be used in the partnership with NSE. Ideally, the model should allow startups 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.
Mr. Kittony was impressed by the progress made in the development of the KoTDA. He expressed optimism that such projects would take the Kenyan economy to a higher status, attracting investors into the country.
“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.
Also in attendance were the NSE Chief Executive Officer, Mr. Geoffrey Odundo, and the NSE Chief Business Officer, Mr. Terrence Adembesa.