12.1 C
Wednesday, May 29, 2024

Infrastructure development projects dominate approved PPP projects

Story by Stanley James, Business Editor

MORE than 20 Public Private Partnerships projects valued at US$4 billion have been approved since 2020 with infrastructure development accounting for the bulk of the investments. 

Data released at the Public-Private Partnerships (PPPs) meeting for parastatals shows that the projects were approved after the inception of the Zimbabwe Investment and Development Agency (ZIDA) Act to mobilise more funding for government utilities.                 

Notable projects approved include the upgrading and modernisation of the Beitbridge border post, Bulawayo Electronic Parking System, ZETDC Manhize Transmission Power Line and upgrading of Zimparks projects, among others.         

The government is expecting Public-Private Partnerships to continue playing a major role in socioeconomic development.           

Zimbabwe Investment and Development Agency chief executive officer Mr Tafadzwa Chinamo said, ‘‘Following the enactment of the ZIDA Act in February 2020, a total of 21 PPPs projects with an estimated value of US$4,2 billion have been processed and approved by cabinet, the PPP journey has not been without learnings as a significant number are also experiencing challenges due to limited resources among others.’’    

PPPs are also considered critical for the country to achieve National Development Strategy targets.

“We want to thank ZIDA for this initiative as you are aware resources are limited, hence the growing need to be innovative in coming up with workable models for development in line with the NDS 1. PPPs are a key component for any development process,” Chief Secretary to the President and Cabinet, Dr Misheck Sibanda noted.

PPPs were introduced in Zimbabwe during the late 1990s due to limited funding from the fiscus and the need for private sector funding for infrastructure development projects.           

Related Articles

[td_block_social_counter facebook="tagdiv" twitter="tagdivofficial" youtube="tagdiv" style="style8 td-social-boxed td-social-font-icons" tdc_css="eyJhbGwiOnsibWFyZ2luLWJvdHRvbSI6IjM4IiwiZGlzcGxheSI6IiJ9LCJwb3J0cmFpdCI6eyJtYXJnaW4tYm90dG9tIjoiMzAiLCJkaXNwbGF5IjoiIn0sInBvcnRyYWl0X21heF93aWR0aCI6MTAxOCwicG9ydHJhaXRfbWluX3dpZHRoIjo3Njh9" custom_title="Stay Connected" block_template_id="td_block_template_8" f_header_font_family="712" f_header_font_transform="uppercase" f_header_font_weight="500" f_header_font_size="17" border_color="#dd3333"]
- Advertisement -spot_img

Latest Articles