Capital sourcing takes centre stage at building contractors’ meeting

By Stanley James, Business Editor

Building contractors have resolved to embrace public-private partnerships (PPPs) in sourcing capital for infrastructure development projects.

The contractors held their Annual General Meeting in Harare this Thursday with capital raising systems being the main focus.

For incoming president of the Zimbabwe Building and Contractors Association, Mr. Petros Kagwere, PPPs will ease government’s pressure in funding projects.

“The current infrastructure developments have presented growth opportunities that need to be increased through the involvement of the private sector so that more value can be realised with the uptake of the projects being key to the entire development of the nation,” he said.

Building contractor Dr. Tinashe Manzungu believes government should be complemented by the private players.

“For some time we are always pondering how the government can continue to be the lone financiers. We appreciate the value or our involvement in the projects, but for more to be realised, the private sector should also take part in the current and new projects,” he noted.

Zimbabwe has experienced remarkable infrastructure development as several government projects are taking shape in line with the vision to attain an upper middle income society by 2030.

Treasury projects the construction and real estate sectors to register 17,4% and 1,7% growth respectively, this year.