Lusaka, Zambia 25 Aug 2010 (ABN) – India is placed to strengthen its business presence in Africa after successfully launching Pan African E-network, a project aimed at providing effective communication in e-commerce and trade with African Union member states.

The project funded at a cost of US 117 million by India will run for five years and is expected to facilitate communication in e-commerce enabling easy movement of finance and quicken India’s exports to AU economies.

India enjoys a consideration share of business in Africa after China mainly in exports of its finished products and has major stakes in wholesale, mining and banking in central and sub-Saharan Africa markets.

Indian High Commission to Zambia Ashok Kumar said 47 out of the 53 countries on the African continent had signed the Pan African E-network agreements for the implementation of the project.

“This project was approved in 2007 and covers the cost of supply, installation, commissioning of hardware, software and satellite bandwidth in all AU countries,” Mr. Kumar said.

Telecommunications Consultants India Limited TCIL is spearheading the full implementation of the project in all AU member states.

Economists say the project would help transform AU states into major economic and financial centers but warned it might aid India to explore other business opportunities which would assist to maintain its grip on vital sectors of AU economies.

The initiative is further expected to have enormous benefits to other important sectors like health, education, communication and e-governance between India and AU member states.

The Zambian government through communication and transport minister Geoffrey Lungwangwa has urged the business community and other AU countries to utilize the project which it says might help improve trade between India and Africa.

A rise of India’s business mainly wholesale has raised concern in Africa for years as natives have no major stake in wholesale trading since India first signaled its interest in the continent’s vast unexplored wholesale trading.

Daniel Tonga