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KIC strengthens Rwanda’s global standing as an emerging digital hub dedicated to fostering the growth of digital entrepreneurs, businesses, students, and professionals who are relocating to the country, thereby enhancing productivity in industries that are not reliant on natural resources
The Government of Rwanda, Africa50, and the Arab Bank for Economic Development in Africa (BADEA), have officially broken ground on the construction of the pioneering smart city project, nicknamed KIC. Dignitaries, policymakers, institutional investors, private investors, multinational corporations, and project developers convened at a ceremony recently to mark the start of construction of the 61-hectare smart city development.
KIC strengthens Rwanda’s global standing as an emerging digital hub dedicated to fostering the growth of digital entrepreneurs, businesses, students, and professionals who are relocating to the country, thereby enhancing productivity in industries that are not reliant on natural resources. The facility will accommodate top-tier universities, world-class universities, startup incubators, and accelerators across disruptive and data-backed sectors, such as robotics, artificial intelligence, machine learning, and more.
The KIC impact leverages the growth of the digital sector and is projected to reach a value of USD 2 billion when completed, generate USD 150 million in ICT exports annually, and attract over USD 300 million in foreign direct investment (FDI). KIC is a testament to digitalization – an enabler of economic diversification and productivity. The digital sector has been the fastest growing sector in Sub-Saharan Africa (SSA), including South Africa, Kenya, and Nigeria, where the digital sector has overtaken the manufacturing sector’s contribution to GDP.
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Delivering the keynote address, R.H. Édouard Ngirente, Prime Minister of Rwanda, underscored Africa’s imminent transition from technology consumption to production, commenting that the groundbreaking was a “critical moment in Rwanda’s journey to becoming a leader in pioneering technology and innovation on the continent.” The new project will be one of the largest smart cities in Africa.
