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Local ICT Firms Must produce technological components and gadgets to reduce foreign currency requirements – Muswere

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LOCAL ICT firms have been urged to locally manufacture the components and accessories they need in their day to day running to reduce the foreign currency burden on the foreign currency auction. Home making ICT products is the only way to go especially for companies that are in the technology business.It defies all logic for a Telecommunication company to fail to make its own telecoms gadget otherwise they must be replaced by those with the capability.

Information Communication Technology and Courier Services Minister, Dr Jenfan Muswere, challenged locals to be innovative and development orientated by starting to make technological components and gadgets they require so as to reduce their forex requirements,

Minister Muswere was giving oral evidence before the Parliamentary Committee on ICT on the status of telecommunication companies regarding access to foreign currency from the Reserve Bank of Zimbabwe foreign currency auction system.

“The foreign currency requirements of these companies is so huge that it cannot fully be obtained through the auction system,” he said.

“It is against this background that as Government, we are encouraging telecommunication companies to be innovative and start manufacturing some of the components they require in order to reduce the foreign currency amounts they require.”

Minister Muswere said telecommunications companies have been participating on the auction system for reasons that include servicing of foreign debt, procurement of equipment and software and settlement of international obligations such as termination fees and bandwidth procurement.

Ross Moyo

ICT’s forex importance cannot be overemphasized – POTRAZ DG Dr Machengete

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