Ghanaian technology businesses have made an initial $7 million investment in Zambia following a recent state visit by President John Dramani Mahama to the Southern African country.
The companies, whose names were not revealed, were part of a delegation led by Mahama on a state visit last week. The two African countries solidified relations by strengthening partnerships in the information and communication technology sector. Felix Mutati, Zambia’s minister of technology and science, confirmed the investment on Tuesday.
“We had 12 technology entrepreneurs who came to Zambia, initially with an intention to search for opportunities but they ended up transacting during the trip. They ended up creating some relationships and some joint ventures,” he said. The minister was speaking in Lusaka during a meeting with Ghanaian high commissioner to Zambia, Elizabeth Nyantakyi.
“During the three days that they were here, an initial investment ticket of $7 million was delivered. This is unique within the context of Zambia,” Mutati said. “Normally when you have such visits, they are more broad-based, more around strengthening cooperation at government-to-government level. This one was unique in the sense that it included a key chapter of moving from cooperation at government-to-government level to creating transactions, investments and joint ventures.”
Mutati revealed he will lead a delegation to Ghana at the end of March following an invitation by his counterpart, Samuel Nartey George. “We also want to make Ghana as a launchpad for Zambia for West Africa. That is one of our key objectives going to Ghana,” he said.
