ZAMBIA IN US $ 72 MN U.S GOVERNMENT PROJECT GAINS

Zambia is among some sub-Saharan countries, expected to benefit from a multi-million dollar internet connectivity American government project.

This will be in a project to be implemented by Overseas private Investment Corporation, a US government’s development finance institution.

According to Ventures Africa, an online US-based publication, the United States Government’s development finance institution, has approved 72 million dollars for the project.

Through this venture Central and Eastern African countries will benefit affordable high-speed internet service, television programming and telephone service to growing, yet underserved middle class markets. 

The 72 million dollars is a loan facility, which will enable Wananchi Group Holdings, a Kenyan company, to extend fibre optic cable services for high-speed internet, television and voice-over internet telephonic services in Kenya.

Zambia, among other countries like Burundi, Malawi, Rwanda, Somalia and South Sudan, is therefore expected to benefit indirectly while the core of the East African region will benefit directly.

Established in 1971, OPIC is the U.S. Government’s development finance institution, which mobilises private capital, to help solve critical development challenges in order to advance the American foreign policy.