The government of Kenya revealed that it is planning to put up for sale around US$800 million worth of national infrastructure bonds. The Kenyan government also said that it would be establishing a venture capital fund to widen its broadband Internet network across the nation more than six-fold.
Kenya's national broadband steering committee and its officials wanted to boost the amount of households with high-speed Internet access from today's 6.3% to 35% by 2017 Susan Mochache-Wekesa, an assistant director at Communications Commission of Kenya, said. Kenya's broadband steering committee has representatives from state bureaus that includes the Communications Commission of Kenya. According to Ms. Mochache-Wekesa, the venture capital fund should be able to raise about KES30 billion.
"In the short term we will need 100 billion shillings. We will require 210 billion shillings by 2030," Ms. Mochache-Wekesa explained. She did not reveal when the proposed bond would be offered for sale.
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