adminAuxilia Katongomara Chronicle Reporter
THE Bulawayo City Council plans to engage a foreign-based capital investment firm to finance its $26 million water and waste reticulation project. The money is needed for the council’s Water and Waste Master Plan (WWMP) to resolve the city’s perennial water challenges. Finance and Development Committee chairperson Councillor Mlandu Ncube told a full council meeting on Wednesday that council planned to borrow money from Loita Capital Partners International.
“The Master Plan includes planning for rehabilitation, renewal and upgrading of water and waste water infrastructure, including associated operational and maintenance requirements as well as institutional aspects linked to cost recovery,” said Clr Ncube.
He said of the money, $17 million would be for water supply, $6 million for waste water and $2 million would be spent on operational and institutional management.
During debate on the matter, councillors demanded a specific breakdown of the money.
Clr Siboniso Khumalo queried why there was no comprehensive breakdown of the plans and was supported by Clrs Earnest Rafamoyo and Silas Chigora.
However, Clr Rodney Jele said it was better for the council to court the investor first before making a breakdown of every cent.
“Let’s go and engage them then we will talk from there,” said Clr Jele.
Clr Ncube said council was in dire need of the money to address the water and sewer problems.
“We need this money to revamp the water infrastructure. When we get this money we will then come back to the council to make a breakdown. As for now let’s court this investor first then ask for a breakdown later,” said Clr Ncube.
The committee said cost estimates had been compiled for various projects to be implemented under the WWMP.
Clr Ncube said Loita Capital Partners International Limited was an investment banking and investment firm headquartered in Mauritius with offices in South Africa, Zimbabwe, Uganda, Zambia and Kenya.
Council resolved to approach the investment firm to get funds for the project.
BCC has over the years been grappling with acute water shortages.
However, according to the latest council minutes, Bulawayo has water that can last up to January next year.
“It’s important to note that while in January it was reported that there was 31 months supply, continuity of supply could not be guaranteed after January 2016 as it was projected that Umzingwane Dam would be decommissioned in January 2016 and followed by Lower Ncema in March 2016,” reads the report.
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