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Konza deal with NSE opens doors to new tech startups

BUSINESSBy GRAHAM KAJILWA | Tue,Oct 26 2021 00:00:00 EAT
By GRAHAM KAJILWA | Tue,Oct 26 2021 00:00:00 EAT

 

Building under construction in Konza. [Boniface Okendo, Standard]

The Nairobi Securities Exchange (NSE) has signed a partnership with the Konza Technopolis Development Authority (KoTDA) to link start-up businesses to potential investors.

The partnership is under the KoTDA incubation programme for tech start-ups. NSE Chairperson Kiprono Kittony and KoTDA Chief Executive John Tanui yesterday affirmed the authorities' keenness to partner with organisations that will support KoTDA to nurture local technology start-up firms to grow and commercialise their ideas.

"KoTDA is focusing on creating partnerships that will help Kenyan tech start-up companies to grow into global entities,” said Tanui yesterday in Nairobi.

The partnership 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 a conducive environment for technology start-ups and SMEs to thrive.

 

Employee trading at NSE. [Courtesy]

It will also scale up in partnership with other actors in the innovation ecosystem. "We look forward to more engagement with the NSE to help achieve this strategic objective,” Tanui said.

KoTDA boss said they were 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. We aim to ensure that at least 90 per cent of the investment in Konza Technopolis is derived from the private sector,” said Tanui.

NSE Chairman Kittony hailed the progress made in the development of the Konza Technopolis, noting that the city will boost Kenya’s economy.

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