Online Reporter
Nqobile Bhebhe [email protected]
ZIMBABWE’S drive to accelerate tourism-led investment has received a major boost following the signing of a US$66,9 million Commercial Joint Venture Agreement to develop bulk infrastructure at the 271-hectare Lot 1 of the Jafuta Estate in the Masuwe Special Economic Zone (SEZ), Victoria Falls.
The agreement, between Mosi Oa Tunya Development Company (Private) Limited, whiich is under the Ministry of Tourism and Hospitality Industry and Victoria Seven Investments (Private) Limited of the J.R. Goddard Consortium follows Cabinet’s approval of the Public-Private Partnership (PPP) in April.
The project is expected to unlock billions of dollars in downstream tourism and property investments, strengthening Victoria Falls’ position as one of Africa’s leading tourism and investment destinations.
The development will provide critical bulk infrastructure, including water and sewer reticulation, electricity distribution and telecommunications networks, creating the foundation for major private sector investments.
Planned developments include hotels, villas, chalets, lodges, holiday homes, a golf estate, commercial and financial precincts, medical facilities, a Tourism Academy and the under-construction International Multi-purpose Cricket Stadium.
The Ministry of Tourism and Hospitality Industry described the agreement as a significant milestone in advancing tourism infrastructure and national economic transformation.
“The landmark development advances President Mnangagwa’s Vision 2030 of an upper-middle-income society and aligns with the National Development Strategy 2 through Sustainable Tourism Investment,” the ministry said.
The ministry added that the project demonstrates Government’s commitment to leveraging strategic partnerships with the private sector to accelerate infrastructure development.
Deputy Minister of Tourism and Hospitality Industry Tongai Mnangagwa, officiating on behalf of Minister Barbara Rwodzi said the investment positions tourism as a catalyst for infrastructure development, economic growth and job creation through PPPs.
He noted that complementary investments would create an integrated tourism ecosystem that enhances Victoria Falls’ competitiveness while realising a vision first conceived in 2012 for the Masuwe SEZ.
Government said it is using land equity through Mosi Oa Tunya Development Company to mobilise private capital for transformational tourism projects.
“Through Mosi Oa Tunya Development Company, Government is leveraging land equity to unlock private sector investment that will strengthen Zimbabwe’s Tourism Infrastructure and Investment Landscape, elevate Tourist experiences, stimulate inclusive Economic growth and further position Victoria Falls as a leading high-value Tourism and Investment destination,” the ministry said.
The project is expected to generate employment during construction and operation while stimulating activity across construction, engineering, telecommunications, utilities, hospitality, real estate and financial services, reinforcing tourism’s role as a key driver of sustainable economic growth under Vision 2030 and National Development Strategy 2.
