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Thursday, January 05, 2006

Gizmos Invests US $20m in Zambia

Gizmos, a US information technology company, has launched its business units in Zambia, with a pledge to invest US $20 million in the next five years. In collaboration with Zambian business partners Gizmos will provide quality information technology solutions to Africa in line with NEPAD initiatives.

With operations in many US states Gizmos has made partnerships with Zambian businesses.

The chief executive officer for Gizmos USA Erik Sachs said he was confident with the investment in Zambia . The Zambian unit, Gizmos Limited, plans to invest US $20 million over five years and create an estimated 150 professional and over 1,000 manufacturing and service-related jobs in the country by 2010.

Launching the Zambian entity frecently, Gizmos Limited managing director in Zambia Greg Marchand said the era of businesses exploring Africa should be over and that companies must now invest in Africa rather than take investments out.

“American business is facing a new reality,” he said. “Africa is the next technology and communication frontier. We are working with forward-thinking companies who see the benefit of economic development and the assistance in bridging the technology and knowledge gaps. This is a winning strategy for American business, and for the Zambian economy.”


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