Online Reporter
Nokuthula Dube
THE Export Credit Guarantee Corporation of Zimbabwe (ECGC) and the Construction Industry Federation of Zimbabwe (CIFOZ) signed a Memorandum of Understanding (MoU) in Harare on Thursday to unlock construction opportunities in the industry.
The MoU reaffirms the collective commitment to reinforcing the foundation of Zimbabwe’s construction industry through improved financial security and accessibility.
ECGC managing director, Ms Sekai Chirume, said, “We are reaffirming our collective commitment to reinforce the foundation of Zimbabwe’s construction industry through improved financial security and accessibility.
“The construction sector plays a crucial role in our nation’s economic growth, influencing infrastructure development, generating employment opportunities and fostering innovation.”
Ms Chirume emphasised the need to support large-scale projects.
“We understand that developing infrastructure is fundamental to driving the nation towards an upper-middle-income economy. However, obstacles persist in obtaining sufficient financial security to support large-scale projects and sustainable development.”
CIFOZ chief executive officer, Mr Martin Chigaira, spoke about the importance of finding service providers who can assist with the necessary information and expertise to help run their businesses smoothly.
In a separate interview, Ms Chirume said the agreement will strengthen their relationship with CIFOZ, as they have been working together for over a decade.
She highlighted their successful collaboration in providing construction bonds for various projects and expressed confidence in the partnership moving forward.
