The Kenyan government has earmarked approximately $125.3 million to bolster projects within the Information, Communication, and Technology (ICT) sector during the upcoming 2024/2025 financial year. National Treasury Minister Njuguna Ndung’u announced the allocation in Parliament, emphasizing its strategic importance for national development.
Key projects under the ICT ministry will benefit from this funding, including $8.5 million for government shared services, $5.4 million for a digital superhighway, and $17.7 million for the Kenya Advanced Institute of Science and Technology in Konza Technopolis. These initiatives are crucial for enhancing efficiency, connectivity, and innovation across various sectors.
To accelerate the development of Konza Technopolis City, the government has allocated $11.5 million for Horizontal Infrastructure Phase I and $40 million for Konza Data Centre and Smart City Facilities. This investment underscores Kenya’s commitment to becoming a hub for technological innovation and digital transformation.
An additional $21.6 million has been allocated to the Digital Economy Acceleration Project, aimed at fostering growth in the digital economy. Another $21.6 million will go towards maintaining and rehabilitating the Last Mile County Connectivity Network, ensuring connectivity reaches all corners of the country.
Minister Ndung’u highlighted the role of these investments in achieving the objectives of Kenya’s bottom-up economic transformation agenda, promoting productivity, competitiveness, and job creation, especially for the youth.
Despite challenges, the government has allocated $38.4 million to the Hustler Fund, a digital loans project aimed at increasing financial access for individuals and small businesses. This allocation comes amidst a backdrop of $76.8 million in defaults since the fund’s inception in 2022, highlighting the need for responsible finance solutions in Kenya.
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