Konza Technopolis, Kenya’s emerging smart city, reported a significant revenue increase of 31.9% to Ksh 252.4 million in 2024, up from Ksh 191.3 million the previous year.
The growth was primarily fueled by a remarkable 326% surge in cloud services revenue, which jumped to Ksh 151.6 million from Ksh 35.6 million in 2023, according to the Kenya National Bureau of Statistics (KNBS).
- Cloud Services Boom: Konza Cloud revenue skyrocketed, underscoring the rising demand for cloud infrastructure within Kenya’s innovation ecosystem. This shift highlights the growing reliance on digital solutions and data centers in the region.
- Land Lease and Other Revenues Decline: Despite the overall revenue growth, earnings from land leases dropped by 17.4% to Ksh 76.1 million, while other revenue streams fell by 60.9% to Ksh 24.7 million in 2024.
- Increased Investor Interest: The number of investors in Konza Technopolis grew from 56 to 70 over the past five years. The number of surveyed parcels rose significantly from 187 in 2023 to 515 in 2024, with leased parcels increasing more than threefold from 9 to 33 during the same period.
- Available Land for Lease Narrows: The parcels available for lease declined by 5.6% to 68, while parcels under development increased to 9 in 2024 from 8 in 2023.
John Okwiri, CEO of the Kenya Technopolis Development Authority (KoTDA), emphasized Konza’s strategic role in supporting government priorities through smart cities, sustainable infrastructure, and innovation-driven initiatives.
He highlighted the establishment of the Konza National Data Centre and artificial intelligence research laboratories as key pillars for future growth.
The Technopolis has also seen a cumulative investment of Ksh 83.5 billion as of 2024, with annual investments growing by 27.3% to Ksh 13.6 billion from Ksh 10.6 billion in 2023.
This significant inflow of capital underscores investor confidence in Konza’s vision of becoming a regional hub for technology and innovation.
