Kigali, Rwanda

Africa50-Project Development

Kigali Innovation City (KIC) is being developed to be a mixed-use, master-planned, innovation city to be situated on 60 hectares of land in Kigali, Rwanda. KIC will seek to facilitate the development of pan-African talent and act as a technology innovation hub. Its plan includes four universities, office spaces, and start-up business incubators, alongside supporting facilities for retail, hospitality and accommodation.

Africa50 is co-sponsoring the project with the Rwanda Development Board, and the total cost of the project should be approximately US$300 million. The government of Rwanda has agreed to provide the shared infrastructure and the incentives that would enable the ecosystem to thrive. Africa50 will structure the project as a PPP together with a strategic sponsor (to be selected). Other investors could join at a later stage.

2600

expected university graduates

$150m

expected in ICT exports

50k

jobs expected to be created

Africa50's Role

Act as project development/finance and equity partner.

Partner

Rwanda Development Board

Impact

Development

  • KIC is expected to generate US$150 million in ICT exports annually.
  • KIC should attract over US$300 million in foreign direct investments.

Environment

  • The project will incorporate international and local green and sustainable design guidelines. It will efficiently manage water through the development of a wastewater treatment plant.
  • It will also include adequate green spaces which help prevent atmospheric damage and excessive heating.

Employment

  • KIC is projected to create over 50,000 jobs upon its completion.
  • Over 2,600 students are expected to graduate annually from its universities over 30 years, adding to Rwanda’s and Africa’s pool of tech-savvy entrepreneurs.

Press Release

Project Photos

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