CBZ wins $2bn Govt tender

Freeman Razemba Senior Reporter
CBZ Holdings has won the Ministry of Higher and Tertiary Education Science and Technology Development tender to raise $2 billion to construct facilities at various institutions. Zimbabwe’s higher and tertiary education institutions are in need of physical infrastructure that includes staff and student accommodation, lecture theatres, laboratories, workshops, administration blocks, service centres and recreational facilities.

The sector has 20 universities, 15 teachers colleges, eight polytechnics and five industrial training centres with a combined student population of 152 529 and staff population of 18 153.

Addressing the media yesterday, Higher and Tertiary Education, Science and Technology Development permanent secretary Machivenyika Mapuranga said CBZ won the bid to structure and issue infrastructure bond of up to $2 billion to the country’s institutions of higher learning.

Dr Machivenyika Mapuranga and CBZ Holdings Limited chief executive officer Never Nyemudzo signed the contract for the mandate at a ceremony yesterday.

Dr Mapuranga said the ministry critically needed investment in physical infrastructure that includes staff and student accommodation, lecture theatres, laboratories, workshop, administration blocks, student service centres and sporting and recreational facilities.

“The higher and tertiary education sector has 20 universities, 15 teachers colleges, eight polytechnics and five industrial training centres with a combined student population of 152 529 and staff population of 18 153 requiring at least 562 student hostels and 10 836 staff houses.”

CBZ CEO Mr Nyemudzo said they were more than prepared to play the role that was pivotal in support of the education system through affordable, provision of affordable good student accommodation.

“We are more than happy to be able to have landed this key mandate from the Government of Zimbabwe.

“As CBZ Holdings we are certainly going to explore a number of funding options either as they stand alone or in combination which include but not limited to, long term debt through bond issues , equity participation ,built operate transfer and engineering procurement construction and finance.”