[kictanet] Fwd: Fw: Reuters.com - Kenya sees $5-$10 bln ICT investments by 2010

[Margaret Gichuki]

--- On *Mon, 3/23/09, Reuters_News at reuters.com <Reuters_News at reuters.com>*wrote:


From: Reuters_News at reuters.com <Reuters_News at reuters.com>
Subject: Reuters.com - Kenya sees $5-$10 bln ICT investments by 2010





    [image: Reuters] <http://www.reuters.com/> Kenya sees $5-$10 bln ICT
investments by 2010<http://www.reuters.com/article/email/idAFLN25512420090323>
Mon Mar 23 13:19:15 UTC 2009

  * Kenya sees foreign ICT investment booming
* Says multinationals interested in back-office operations
 By Duncan Miriri
NAIROBI, March 23 (Reuters) - Kenya expects $5-$10 billion of foreign
investment from communication technology firms by next year, a senior
government official said on Monday.
East Africa's biggest economy is set to link up with the rest of the world
via broadband from June through three undersea telecoms cables.
"I would comfortably estimate that next year, even with a very poor economy,
we will probably see between $5-$10 billion coming," Bitange Ndemo,
permanent secretary at the ministry of information and communication, told
Reuters in an interview.
He said international firms that had expressed interest in investing
included Google <GOOG.O>, Accenture <ACN.N> and General Electric <GE.N>.
"We are seeing huge interest by multinational companies who want (to) take
advantage of these connections and the availability of many youths who are
educated to create back offices in this country," he said.
Kenya's government is fronting one fibre-optic cable worth $110 million that
will link it with the United Arab Emirates.
The chief executive of SEACOM, a $700 million private equity venture, said
on Monday that sales of bandwidth capacity were going well ahead of its
cable's completion in June. [ID:nLN478381]
Analysts say enhanced telecoms infrastructure has the same growth potential
as mobile telephony, which has grown exponentially in the world's poorest
continent in recent years. (Editing by Daniel Wallis; editing by Simon
Jessop)

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