Kudzanai Gerede, Companies and Market Editor 
LOCAL technology firm, Avantis Technologies (Avantis) is targeting a listing on the Victoria Falls Stock Exchange (VFEX) in October as the company seeks to raise capital, strengthen corporate governance and expand its footprint across Africa.
The Harare-based hardware and software manufacturer, founded in 2016 by entrepreneur Ari Goldstein, said the planned listing forms part of a broader strategy to scale operations and position the business for international growth.
Speaking to The Financial Gazette on Thursday during the launch of the Avantis Parote 1030i laptop in Harare, Goldstein said preparations for the listing were at an advanced stage.
“We are almost 70 percent done on listing at the Victoria Falls Stock Exchange because we are listing, that’s how we can sustain our business and also give confidence to our customers as well as our partners,” he said.
Goldstein said listing on the VFEX would enhance the company’s credibility and improve its ability to attract investment.
“So listing, what it does, it makes us compete to raise funds and also brings a lot of legitimacy and the standards of running a business,” he said.
Goldstein said that Avantis was also eyeing a secondary listing on the Tel Aviv Stock Exchange in Israel, which he described as a global hub for innovation and technology companies.
He added that the Israeli exchange requires firms seeking to list to have a valuation of at least US$200 million and annual sales exceeding US$20 million.
“This is what we are working on right now and we are almost there,” he said.
Avantis currently manufactures and assembles laptops and other digital devices at its Microsoft-certified factory in Msasa, Harare.
The company is known for producing affordable computing devices, including the Connect and P-series notebooks.
Goldstein said the firm has capacity to produce up to 1,5 million laptops annually through partnerships in China and South Africa, although current production remains below full capacity.
“This year we’re going to produce 60 000 and we are almost at about 25 000 units,” he said.
The company also plans to expand exports into regional markets, beginning with East Africa, South Africa and Mozambique.
Goldstein said Avantis was working closely with State-owned telecommunications firm TelOne on engineering and assembly processes.
“We design and then we do some other technical stuff. We do motherboards on our own and then we give them, they assemble everything else and then the computer is out,” he said.
Speaking at the product launch, ICT minister Tatenda Mavetera said the government will continue to extend support to young innovators through sound policy interventions as well as inward focused procurement to support growing businesses.
“We need to make a deliberate policy towards that. The government is the biggest buyer. We need to buy local so that we can capacitate them. However patriotism alone can not sustain a technology but a quality product can sustain itself,” Mavetera said.
At optimum production levels, Avantis expects to employ 137 people directly, while supporting between 200 and 300 indirect jobs across Zimbabwe, China and the Southern African region.
