Zimbabwe says telecommunication companies have contributed over $20 million to a mooted ICT Youth Innovation Fund to provide seed capital to local start-up techies.
The fund is a collaborative effort between the ICT ministry, the regulator Postal and Regulatory Authority (POTRAZ) and industry players aimed at financing innovation, development and promotion of new platforms by Zimbabweans.
“The companies have been contributing since January and we are now finalising a few logistics before we officially launch the fund,” ICT Minister Supa Mandiwanzira said in an interview.
The telecoms industry contributes one percent of the revenue which they generate towards the fund, Mandiwanzira said.
This contribution is separate from their payments to Universal Services Fund (USF), a pool meant for infrastructure development in outlying areas.
Telcos contribute at least 1.5 percent of their gross revenue to the USF.
Mandiwanzira did not say how the fund will be managed.- The Source
(23 VIEWS)
This post was last modified on July 27, 2016 10:31 pm
The Zimbabwe Gold, ZiG, continued to firm against the United States dollar ending the week…
Zimbabwe will be issuing 7.5 kg of grain a month to each of the six…
The stability of Zimbabwe’s local currency, the Zimbabwe Gold (ZiG), is critical if the country…
More than half of Zimbabwe’s population will need food aid between this month and March…
Zimbabwe’s currency, the ZiG, kicked off the week on a positive note after firming to…
Twenty-five white Zimbabwean farmers who took their R2 billion land damages claim to the South…