Categories: Stories

Zimbabwe to create its own ‘Silicon Valley’

Children look at Zimbabwean-made drone

Zimbabwe’s government and telecommunications sector will partner to set up a fund to support and promote budding innovators in the country’s information technology sector, ICT Minister Supa Mandiwanzira has said.

Under the initiative, the telecommunications companies are expected to contribute one percent of their annual revenue into the fund.

The latest available annual revenue statistics from the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) show the sector registered $907 million revenue in 2014, which would translate to a $9 million potential contribution to the fund.

It is anticipated up to $25 million would be mobilised in the next two years.

The idea was born out of complaints from the players in the telecommunications sector who wanted government to either ban or stifle use of over the top services (OTTs) such as WhatsApp, Viber and Skype which are eating into their revenues, the minister said.

“We did mention that as a progressive government which promotes access to technology, we were averse to the idea of stifling these technologies or banning them but rather we should look at an opportunity to develop our own young Zimbabweans who should develop software and programmes that counter those that are coming from Silicon Valley,” the minister said at the E-Tech Africa Symposium.

“After those engagements, we agreed with industry that one percent of the revenue of telecom companies which they generate out of the use to telecommunications services will go now into this specific fund for the promotion or development of platforms, applications by Zimbabweans.”

Silicon Valley, which is in the United States, is the home to many of the world’s largest high-tech companies as well as start-up companies.

Mandiwanzira said government would partner with other institutions to promote successful homemade applications.

“Home grown innovations are very important because they address issues that we face on a daily basis,” he said.

“We believe that this is an opportunity where we can partner other institutions such as venture capital funding where if brilliant ideas come out, we help to develop these ideas, to patent them and take them to Zimbabweans and the global market and it’s a win-win, everybody benefits.”

 

See also:

NetOne’s Kangai rings alarm as Whatsapp eats into revenues

Revenue for mobile operators falls by 14 percent

Econet says it has paid nearly $1bn taxes in five years

Mobile money can drive Zimbabwe’s economic growth – Moody’s

Zimbabwe now has more phone subscribers than its population!

(134 VIEWS)

This post was last modified on %s = human-readable time difference 9:04 pm

Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

Recent Posts

Can the ZiG sustain its rally against the US dollar?

Zimbabwe’s battered currency, the Zimbabwe Gold, which was under attack until the central bank devalued…

November 10, 2024

Will Mnangagwa go against the trend in the region?

Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…

October 22, 2024

The Zimbabwe government and not saboteurs sabotaging ZiG

The Zimbabwe government’s insatiable demand for money to satisfy its own needs, which has exceeded…

October 20, 2024

The Zimbabwe Gold will regain its value if the government does this…

Economist Eddie Cross says the Zimbabwe Gold (ZiG) will regain its value if the government…

October 16, 2024

Is Harare the least democratic province in Zimbabwe?

Zimbabwe’s capital, Harare, which is a metropolitan province, is the least democratic province in the…

October 11, 2024

Zimbabweans against extension of presidential term in office

Nearly 80% of Zimbabweans are against the extension of the president’s term in office, according…

October 11, 2024