The World Bank has approved Kshs 52.1 billion financing to support Kenya’s digital economy.
This is the first phase of a program which is scheduled to run from 2023-2026. Phase one will be focusing on expanding access to high-speed internet, improving the quality and delivery of education and selected government services, and building skills for the regional digital economy.
The second phase will run from 2026-2030, concentrating on building a data driven and secure environment for enhanced digital service delivery and innovation for the regional digital economy.
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The project will also mobilize an estimated Kshs 13.4 billion in private capital by crowding-in the private sector for broadband infrastructure development.
The Kenya Digital Economy Acceleration Project aims to help make Kenya’s growth more equitable by shrinking disparities in digital skills and connectivity and expanding the digital marketplace.
While Kenya has made impressive gains, there remains a persistent digital divide in access to broadband, digital public services, and the skills needed for individuals and businesses to thrive in an increasingly digitized economy and society.
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The project will increase access to broadband through expansion of the fiber backbone and last mile connectivity to government and learning institutions as well as along Kenya’s borders with its neighboring countries, benefiting the regional digital market.
The project will also boost digital skills to support the uptake of digital services and the development of a competitive labor force for the digital economy.
In addition, it will enhance access to regional and global markets through regulatory and policy harmonization with regional initiatives.
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