Rwanda is investing in a multi-billion dollar project that will mark it as a digital hub and center for technological advancement within the continent. The project is dubbed as Kigali Innovation City and is part of the Government of Rwanda Vision 2020 program.
The intention is to spur innovation through investment into the future workforce and their level of competitiveness on a global stage. The Kigali Innovation City is an innovative effort aimed at building mass talent, research, and innovation for the transformation of the continent.
With the right set of infrastructure, the Rwandese government hopes to attract biotech firms, foreign and domestic universities, technology companies, and financial and healthcare services. In the tech space, Rwanda seems to be making the right moves thanks to the courageous leadership focussed on embracing future exploits and youthful inspiration.
Paula Ingabire, Minister of ICT and Innovation disclosed that the project was poised to generate over 50,000 jobs, generating an estimated $150 million worth in ICT exports annually. Direct capital investment inflows worth $300 million are expected. The project that was initially started in 2018 cost the government $2 billion. Rwanda believes that this new model of investment is moe practicable should be emulated by African governments who find it challenging to deliver on their job promises.
Rwanda has set into motion ambitious investment projects such as the $5 billion green cities within Kigali. Te project will commence in January 2020 and stand out as the first of its kind in East Africa. With an economic growth rate of 7 percent, Rwanda is one of the fastest-growing economies within the African continent. The long-term Rwandese president has set a target of leapfrogging the East African country into the Fourth Industrial Revolution.