When Mugabe embraced the East Asian communist nation, many believed he’s just a clueless old retard who’s desperate to better the economic conditions of a country he reduced to nothing.
“He’s partnering with China to feed hungry Zimbabweans dogs,” some mocked.
Mugabe however, refused to be dispirited. He embraced China more and now, Chinese ZTE is set to invest $1.5 million in Zimbabwe to establish 50 branches across the country.
BuzzSouthAfrica learnt that ZTE Corporation, a Chinese multinational telecommunications equipment and systems company headquartered in China will open 50 branches across Zimbabwe.
Speaking for ZTE, Zhou Zhongguo reportedly stated that the corporation is “looking at opening 50 new branches in Zimbabwe with about $30 000 to be spent at each branch by year end.
The investment is in line with the potential that we have seen in the Zimbabwean market. We have opened a service center at Joina City where we will be providing all spare parts and accessories as this will make it easier for our customers.
We are also looking for agents with good spaces to market our ZTE brand,” Zhongguo added.
The ZTE investment is regarded as a first major step toward the revitalization of Zimbabwe’s economy. Among other things, it is anticipated that the ZTE branches will create job opportunities and drive further investment in the country.
Last year, ZTE was listed among the top six smart phone manufactures in the world. And also, ranked among the LTE smartphone manufacturers.
The corporation recently announced its first quarter results for the period ending 31 March 2016. Therein, it reported an operating revenue of RMB21.859 billion, representing a 4.09% increase year on year.
Also, it stated that “net profit attributable to shareholders of the listed company amounted to RMB950 million, representing a 15.97% increase from the same period last year.”
It’s undoubtedly, a pleasant news for Zimbabwe that such a prestigious multinational corporation is establishing itself in the country. Thanks to Mugabe who ensured Zimbabwe is China’s friend. Salute him.