Inside Politics

Konza, NSE seek partnership to invest in tech firms

Friday, October 29th, 2021 00:00 |
NSE CEO Geoffrey Odundo, NSE Chief Business Officer Terrence Adembesa, KoTDA CEO Eng John Tanui and NSE Chairman Kiprono Kittony. Photo/PD/COURTESY

Konza Technopolis Development Authority (KoTDA) is seeking to partner with the Nairobi Securities Exchange (NSE) to connect investors with viable tech start-up businesses KoTDA is incubating.

Speaking during a meeting with NSE Chairman, Kiprono Kittony, KoTDA Chief Executive Officer, John Tanui said the Authority is keen on partnerships with organisations that will support KoTDA to nurture local tech start-up firms to grow and commercialise their ideas.

Eng Tanui said, “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 Catalyse an environment conducive 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.”

KoTDA CEO added that the authority is also evaluating 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 per cent of the investment in Konza Technopolis is derived from the private sector,” said Eng Tanui.

The NSE chairman hailed the progress made in the development of Konza Technopolis. 

 “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,” Kittony said. -KNA

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