from ARNOLD MULENGA in Lusaka, Zambia
Zambia Bureau
LUSAKA, (CAJ News) – THE United States-based artificial intelligence firm, Devdraft AI, is to invest US$10 million in Zambia’s financial sector.
The Zambian government has welcomed this investment as an endorsement of the country’s AI strategy, launched last week.
Devdraft AI, a Silicon Valley-based firm, is by this investment setting up its African operations base in Lusaka, Zambia’s capital city.
It aims to work with small and medium enterprises (SMEs) to provide an AI-powered financial payment platform.
“The company will also share its AI expertise to students in universities in Zambia,” Salifyanji Namwila, Devdraft AI Chief Executive Officer, added.
Boris Manda, the company’s co-founder, said Zambia’s laudable investment policies had attracted them to establish a presence in the Southern African country.
“Zambia is ahead of time when it comes to AI, as the strategy is already in place,” Manda said.
The strategy is central to Zambia’s eighth National Development Plan (NDP) of 2022-2026.
Felix Mutati, the Minister of Science and Technology, welcomed Devdraft AI’s expansion to Zambia.
“Government wants to ensure that young innovators in the country learn from experts at Devdraft AI in coming up with AI solutions for the country,” he added.
Manda and Namwila are Zambian-born but based in America.
– CAJ News