Online Reporter
Nelson Gahadza
Senior Business Reporter
ZIMBABWE is seeking potential investors to raise more than US$200 million to finance the launch of a telecommunications satellite to strengthen the country’s digital infrastructure and improve internet connectivity.
Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube, revealed this at the launch of the Business and Knowledge Process Outsourcing (BKPO) operational framework.
The Treasury chief said the proposed satellite project is part of broader efforts to support the country’s digital economy and build the infrastructure needed to grow the outsourcing sector.
“The success of the BKPO industry also relies on a strong ICT infrastructure and connectivity. Our project of launching a communication satellite is a part of this,” he said.
“It is about the digital economy after all, and we are trying to raise over US$200 million to support the launch of the telecom satellite, which will then improve our connectivity and strengthen our ICT (information and communication technology) infrastructure.
It will also change the telecommunications and television space,” he added.
Prof Ncube said the Government was currently engaging various potential sources of capital to mobilise funding for the project.
“We are talking to various potential sources of capital, and we hope we will succeed. We have to keep pushing. “It is a new area for us, as you can imagine, how to make money off satellites,” the minister said.
The proposed satellite is expected to play a key role in expanding Zimbabwe’s digital infrastructure, which authorities say is critical for supporting the growth of the business and knowledge process outsourcing sector.
Zimbabwe has been ramping up investment to support the growth of digital connectivity in recent years, with internet penetration projected to rise above 75 percent.
Mobile data traffic has also increased by more than 19 per cent, while the country now has over 14,5 million mobile data subscriptions.
Significant investments by telecommunications operators, alongside government-led broadband upgrades, are strengthening the digital backbone required for globally competitive service delivery.
Authorities say these improvements are positioning Zimbabwe as a credible destination for digital outsourcing, particularly as global companies seek new locations for business process and technology services.
Prof Ncube also underscored the role of advanced technology in accelerating national development and improving connectivity across the country.
