Chronicle Editor
Nqobile Bhebhe, Senior Business Reporter
THE proposed setting up of a Cowdray Park industrial zone in Bulawayo, which is gathering momentum, presents vast potential to turn around the economic fortunes of the city, business leaders have said.
The initiative seeks to establish 213 industrial stands to accommodate local business and big factories. Once operational, it would allow operators to service the immediate local market and tap into the African Continental Free Trade Area (AfCFTA) market, the Zimbabwe National Chamber of Commerce (ZNCC) Matabeleland Chamber has said.
Further, the initiative is expected to create more job opportunities as workers will be engaged from servicing of availed 213 stands and construction of factory stalls.
In an interview ZNCC Matabeleland Chapter chairperson, Mr Mackenzie Dongo, said the Cowdray Park industrial development initiative was long overdue.
“The initiative is long overdue as the city has run out of industrial stands. This move will see Bulawayo benefitting from new investments from both local and foreign businesses,” he said.
Mr Dongo said apart from job creation, the initiative will aid in decongesting the central business district as people will walk or cycle to work.
The City of Bulawayo has since invited interested reputable property development companies and financial institutions to service 213 stands in the city’s most populous suburb.
There are about 75 000 people in Cowdray Park, according to the 2022 Population Census preliminary results. However, the suburb is dominated by tuckshops with a few shops operating. Only brick moulding seems to be thriving in the area, although most of it is illegal.
To that end, the local authority has since availed industrial stands in Cowdray Park and is calling for partners to develop them.
Initially, the council said 288 Industrial stands with an average stand size of 1 500 square metres in extent would be made available to developers for servicing through an expression of interest.
In a notice calling for expression of interest, the local authority said the project is split into two lots comprising 77 industrial stands and the other having 136 with an average stand size of 200 square metres.
“The City of Bulawayo is inviting competent and reputable property development companies, financial institutions or pension funds with development finance to express interest to undertake the development of 213 industrial stands in Cowdray Park township with an average stand size of 200 square metres,” reads the notice.
Council has said that prospective developers must have adequate development finance, which they will use to fully service the stands and would recoup their investment from the proceeds of the sale of the stands.
“The stands are to be sold once servicing has been completed. The developer will be expected to carry out an environmental impact assessment and have it approved by the Environmental Management Agency (EMA) prior to commencement of serving of the stands,” said the local authority.
The scope of work to be done ranges from water and sewer reticulation, roads infrastructure and public lighting. The establishment of industries is also expected to boost the suburb’s economic growth as it has a big market largely due to its huge population.
Online Reporter