80,000 potential jobs have been put on hold pending a move by the government to secure investors for the Konza city project. The project, which is described as Africa’s Silicon Savannah, should have kicked off in April but experienced a few setbacks.

Dr Bitange Ndemo, Permanent Secretary for the Ministry of Information and Communications said that the lag was caused by a need to re-design the construction site and a delayed legal notice for the creation of the Konza Authority. The Ministry has since issued bids for contractors to re-design the site. The Konza Authority is also officially in effect. However, foreign investors are still needed to get the ball rolling.

In light of this, the AfDB has partnered with the Kenyan Government in a bid to attract foreign investment. The total cost of the project stands at an estimated KES 800 million.

Konza’s first Investor’s Conference will take place between today and 9^th of August at the Kenya International Conference Centre (KICC). It aims to attract about 500 local and foreign investors to discuss financing models for the venture. Dr Ndemo also noted earlier that the ICT Ministry will partner with the Ministry of Tourism to market the project to attract overseas financers during this year's London Olympics.