INDIGENOUS technology company Avantis Technologies is targeting listings on the Victoria Falls Stock Exchange (VFEX) and the Tel Aviv Stock Exchange after unveiling a locally-built laptop that it says meets international standards.
The company on Thursday evening launched the Avantis Parote 1030i laptop, which comes with 512GB SSD storage, Bluetooth and Wi-Fi capabilities, among other features.
Speaking to journalists after the launch, Avantis Technologies founder and chief executive officer Ari Goldstein said the company was 70% towards listing on the VFEX, which he said would strengthen investor and customer confidence in the business.
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“That is how we can sustain our business and also give confidence to our customers, as well as our partners,” Goldstein said.
“Listing enables us to compete, raise funds and bring greater legitimacy and higher standards to the way we run the business. We are planning to list on the VFEX, probably in October, if things go well.”
Goldstein said the company also intended to pursue a secondary listing on the Tel Aviv Stock Exchange in Israel.
“Israel is a hub of innovation and technology, and they said we must have a US$200 million market valuation and sales of above US$20 million. We are working on that right now. We are almost there,” he said.
The company plans to produce about 318 000 laptops annually and says it has the capacity to manufacture up to 1,5 million units per year through partnerships in Germany, China and South Africa.
“This year, we are only going to produce 60 000 units, and we are already at around 25 000 units,” Goldstein said.
“We want to export to East Africa first, and then to South Africa, which has a huge population base, as well as Mozambique and other countries surrounding Zimbabwe.”
Goldstein said the company was working with TelOne on assembly and engineering processes because of the state-owned telecommunications firm’s tooling capabilities.
“They assemble everything else, and the finished computer is produced,” he said.
Goldstein said Avantis was focusing on building a recognised African technology brand rather than manufacturing every component internally.
Once operating at full capacity, the company expects to employ 137 people directly and between 200 and 300 indirectly across China, Zimbabwe and South Africa.
Avantis Technologies also looks forward to establishing data centres that contribute towards protecting Africa’s data sovereignty.
“We are also investing towards the development of local artificial intelligence models trained on African realities, languages, and culture, because technology becomes more powerful when it understands the people it serves,” he said.
Launching the laptop, Information Communication Technology, Postal and Courier Services minister Tatenda Mavetera urged Avantis Technologies to build on the momentum created by the launch.
“Do not squander this moment. Do not get comfortable. The Parote 1030i is your first punch. I expect you to throw many more,” she said.
“The nation is watching. The continent is watching. Make them believe. The great Kwame Nkrumah declared that we must prove to the world that after all, it is possible to manufacture in Africa, to innovate in Africa, to build technological empires from African soil.”
Mavetera said the launch demonstrated that Africa’s industrial and technological ambitions were beginning to materialise.
“The Avantis Parote 1030i is the evidence that Nkrumah's dream is no longer deferred; it is being assembled, tested, and shipped, right now, from Zimbabwe,” she said.
The minister also commended the company’s planned listing on the VFEX, saying it reflected confidence in Zimbabwe’s economy.