The Sunday Mail
DATA Insights Technologies, a United States- based technology firm run by Zimbabwean businesspeople, is set to invest US$180 million towards the establishment of a software and data engineering venture locally.
The outlay is arguably one of the biggest investments by locals living abroad since the dawn of the new political dispensation last year, and is projected to create over 25 000 jobs in the next three years.
Last year, DIT registered its local venture, with full scale operations set to commence by mid-March this year.
The investment outlay is an affirmation to President Mnangagwa’s drive to attract foreign direct investment as a means of engineering an economic turnaround with locals playing a part.
Since his inauguration on November 24 last year, the President has implored Zimbabweans living outside the country to take first mover advantages being offered under the new political and economic order.
DIT chief executive, Mr Denford Madenyika told The Sunday Mail Business from his Dallas base that all systems are already in place.
“Data Insights Technologies has been established in Zimbabwe since December 2017.
“We will be holding a meet and greet event in Harare, Zimbabwe, on 26 March 2018 at the Harare International Conference Centre.
“This is a firm response to the President’s call (for Zimbabweans in the Diaspora to invest back in the country).
“With the view of giving back to our country, Data Insights Technologies would like to help decision makers by creating a Government business intelligence platform, which provides a consolidated view of the economy with near-real time data analytics.
“Our vision is to create 25 000 jobs in the first three years.”
The firm’s operations will seek to marry data, analytics and insights in order to accelerate production, fight corruption and strengthen the capacity of institutions in both the public and private sector.
Data is the information obtained from users, such as demographic information, behaviour, and activities while analytics is the discovery of patterns and trends gleaned from data.
Further, insight is the value obtained through the use of analytics.
Added Mr Madenyika: “Our idea is using data to strengthen the capacity of the public sector.
“This should stop corruption in its tracks. We use data to look at the holistic operations of the public sector.”
DIT was founded in 2014 and has built the best technical team out of Africa and has the largest team of data analysts from Zimbabwe. It has previously offered services to SADC and other countries in sub-Saharan Africa, both for public and private sector clients. Research has revealed technology driven companies are set to spearhead economic development in many emerging economies. .
