The Public Research University to be established in Konza Techno City will receive Sh1.5 billion annually from the National Treasury.
According to information from Konza Technopolis Development Authority (KOTDA), the public research university will be established by the Kenyan government in partnership with the South Korean government.
The National Treasury will begin making the allocations in the 2019/2020 financial year for the project which is 60Km from Nairobi city.
The Ministries of Education and that of Information, Communications and Technology also want the National Treasury to further set up a Sh1.5 billion endowment fund to ensure the financial sustainability of the university.
KOTDA Chief Executive Officer Eng John Tanui said in Nairobi that the money will go towards salaries for the faculty and staff, scholarships, operational and maintenance costs.
Eng Tanui, however, said that once the institution is running, it will have its own money.
“Once the institution runs effectively, it will have its own leadership and its faculties of learning, research and innovation will start generating money through linkages with the private sector," he said.
Plans to establish the Kenya Advanced Institute of Science and Technology (KAIST) were first announced in May last year following a meeting between President Uhuru Kenyatta and South Korean President, Park Guen-hye.
At the time, Seoul committed to invest Sh10 billion in the university which will be modeled in line with the vision and principles which guided the establishment of Korea Advanced Institute of Science and Technology.
Konza Techno City, a Sh1.48 trillion project, is an ICT business hub dubbed “Africa’s Silicon Savannah.” The project, a multi-billion- dollar ICT business hub, has the ability to spur massive employment, trade and investment.
The research university will offer Masters and PhD programmes in electric and electronic Engineering, ICT Engineering, Civil Engineering and Agricultural Biotechnology. Twenty Masters and five PhD students will be admitted into each of the programmes annually.
By mygov.co.ke