Three of Zimbabwe’s mobile service providers have come into an agreement to financially support technology startups in the country. The Telcos- NetOne, Telecel and Econet Wireless under an ICT Innovation Drive fund will contribute 1% of their revenues.
Tech startups in the Zimbabwe are facing funding challenges and the latest development is coming as a timely intervention to relieve many startups that are basically bootstrapping.
Under the initiative, the Zimbabwean government and the three telecommunications companies will join hands and jointly fund six technology startups.
Speaking on the development, Supa Mandiwanzira, Zimbabwe’s ICT Minister said, “All the telecom companies in Zimbabwe are supportive of this innovation drive. They have agreed that they contribute 1 percent of their revenues into this fund. Innovations will sit on their platforms and be downloaded from their platforms.”
According to iAfrikan, the tech startup scene in Zimbabwe is expected to benefit from the country’s promising Internet penetration rate of around 50% which is buoyed by rising mobile Internet access. The six selected beneficiary startups under the Zimbabwean innovation drive include Oyos Music, Shift Organic Technologies, Red Pen, Purpose Science, Native Project and Afrimom .
Some tech startups in Zimbabwe are being nurtured in various tech hubs. These include MuzindaHub, B2B Hub, Harare Tech Hub and others.
Zimbabwe has also launched its ICT policy which seeks to modernise ICT platforms and egovernance in the country. The Zimbabwean President, Emmerson Mnangagwa said that most government websites were outdated and needed a revamp.
The President highlighted that e-government would help deal with corruption and bring convenience in accessing services through removing bureaucracy.
According to Mnangagwa, “through modernization of ICT policies we can create a conducive environment that can attract and foster foreign and domestic investment. The policy has inbuilt stabilizers to ensure it remains relevant.
“The policy seeks to accommodate SMEs who may want to play a role in the provision of digital communication systems,” he added.
