Rwanda is Building Africa’s Very Own Silicon Valley – Kigali Innovation City (KIC). Twenty-five years ago, Rwanda was in the middle of a violent civil war. Now it is building a $420m innovation park in the capital, Kigali, which it hopes will transform the country into east Africa’s tech and business hub.
Kigali Innovation. City (KIC) is the government’s flagship programme to create a hi tech ecosystem centered around innovation and talent. The government – led by Paul Kagame,
wants to accelerate Rwanda’s transition to a knowledge-based economy. To this end, it is modelling itself on the southeast Asian city-state of Singapore.
Rwanda has come a long way since the civil war ended in 1994, having claimed between 500,000 and 1.07m lives. According to the International Monetary Fund(IMF), in 2019 it had a $10.2bn economy and a population of 12.3 million people (around 1.1 million people live in Kigali). The economy expanded at 10% last year – one of the fastest rates in the #world, according to the IMF. On average, gross domestic product grew by 7.1% a year between 2010 and 2018. The IMF is now forecasting 3.5% growth this year and 6.6% next year. – Mark-Anthony Johnson
Most African countries have taken the decision to follow the steps of Asian and Arabian rich countries by building business hubs from various sectors such as Oil & Gas, Technology, Real Estates and many others.
Ghana’s Petronia City
Petronia City is a proposed 2000-acre city development project that aims to provide the first fully integrated business hub for West Africa’s Oil, Gas and Mining industries. The proposed development is being undertaken by Wonda World Estates and the Petronia City Development affiliate.
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