THE Export and Processing Zones Authority (EPZA) has said that attracting investment in high tech industries is important in encouraging transfer of new technology to benefit local industrialisation and contribute to economic growth.
The Export Processing Zones Authority (EPZA), Director of Investment Promotion and Facilitation, James Maziku said in Dar es Salaam on Thursday citing the 5 million US dollars (11.5bn/-) worth investment DZ Cards Africa Limited located at Benjamin William Mkapa Special Economic Zones as one and only factory in the Sub-Saharan Africa.
There are also a number of industries developed under the economic zones apart from the high tech ranging from garments, agro processing, packaging materials, construction materials, leather and leather products.
Mr Maziku said the rising demand for electronic cards and quest to enhance cashless economy is prompting DZ Cards Africa Limited to extend its footprints and unlock huge market potentials across the continent.
"Going cashless through use of electronic smart cards is not only easing one's life but also helps authenticate and formalise the transactions. This helps to curb corruption and flow of black money into the economy," he said.
The high tech factory has in four years period since when it started its operations in 2015, the electronic smartcard maker has increased export earnings to an average of 2.9 million US dollars (about 6.67bn/-) annually.
Offering a full range of products and services, DZ Card is the ideal partner for any Europay MasterCard and Visa card business. This is ultimately reducing the cost incurred for printing and transportation of currency notes.
He said that the high tech factory will employ over 400 people when it becomes fully operational.
Using the high tech machines, the factory has capacity to make 300 electronic smart cards in one line of production per hour thus guaranteeing the quest to capture the growing market demand for security cards solutions in the continent.
Currently, the manufacture electronic smart card is making extra production to meet and supplement the high demand for cards in the Thailand factory.
The products manufactured by DZ Africa Limited cover a wide range of sectors namely telecom (SIM and Scratch cards), banking (credit cards like Master- Card, Visa cards, ATM cards) and government (Driving licence, National identification cards).
To provide convenient and high speed communication for use in the manufacturer of high tech electronic smart card, the facility has been connected to the National Fiber Optic.
DZ Card was founded in 1971 by Mr Jørgen Schmidt and it was then a printing house specializing in computer and security forms.
The company became an expert in printing checkbook and bank passbooks with magnetic stripes. In the mid-70s DZ Card expanded into the plastic card business.