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Silicon Valley-based telecoms firm, Devdraft AI, has announced a US$10 million investment in Zambia’s financial sector, just two days after the government launched its Artificial Intelligence (AI) Strategy.
Devdraft AI will establish its African operations base in Lusaka, according to Chief Executive Officer, Salifyanji Namwila, who made the announcement following a courtesy call on Technology and Science Minister Felix Mutati in Lusaka on Monday.
Namwila explained that the company plans to collaborate with Small and Medium Enterprises (SMEs) in Zambia to introduce an AI-powered financial payment platform.
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Additionally, Devdraft AI would share its AI expertise with students at Zambian universities.
“Zambia is a lucrative market, and we believe this is an ideal place for investment,” Namwila stated.
Devdraft AI’s co-founder, Boris Manda, credited Zambia’s favorable investment policies for attracting the American firm.
He also commended Zambia for being ahead in AI, noting that the country already has an established AI strategy.
In response, Minister Mutati assured the company of the government’s full support as it establishes its operations in Zambia.
“The government is committed to ensuring that young innovators in Zambia can learn from experts at Devdraft AI to develop AI solutions for the country,” Mutati said.
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