(CNN) Rwanda's President Paul Kagame Monday inaugurated what is being described as Africa's "first high tech smartphone factory" in the country's capital Kigali.

President Kagame hailed the launch as another breakthrough for development in Rwanda, which has enjoyed rapid economic growth in recent years and gained a reputation as a hub of innovation

"The Mara Phone joins a growing list of high-quality products that are made in our country," the president said at the Mara Phones Factory which is situated on the outskirts of Kigali.

The Mara Group, a pan-African business headquartered in Dubai, says the factory will deliver "high quality smartphones at an affordable price."

Mara is producing two types of smartphone in Rwanda: The Mara X with 16GB storage space will retail for 120,250 francs ($130), while the more advanced Mara Z model with 32GB storage is on sale for around 175,750 francs ($190), the company said.

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