Online Reporter
Nqobile Bhebhe [email protected]
THE Insurance and Pensions Commission (IPEC) has pushed back against concerns over the visibility of pension fund investments in Matabeleland, saying several projects in the region are being financed by long-term “patient funds”.
IPEC Commissioner Dr Grace Muradzikwa said pension funds had invested in a range of projects across Matabeleland, while challenging authorities seeking funding for major developments such as the Gwayi-Shangani project to present bankable proposals capable of attracting long-term capital.
Her comments came in response to City of Bulawayo official Mr Kholisani Moyo, who questioned the visibility of IPEC-funded projects in the region, arguing that the massive student accommodation flats often cited as an example were now an “old example”.
Dr Muradzikwa said pension funds could not commit capital to projects without properly structured and bankable proposals.
“I am not aware of any projects that have been submitted around the Gwai Shangani.
“So i think that is the starting point, it is to be a bankable project if you wanted to attract patient fund monies,” she said.
She said pension fund managers also had to balance developmental investment with their fiduciary responsibility to secure returns for policyholders and pension scheme members.
“We have that balance making sure that the policyholders have good returns on their lifelong investment,” Dr Muradzikwa said.
She said the absence of highly visible projects should not be interpreted as a lack of pension fund participation in the region, adding that IPEC had a list of investments spread across Matabeleland.
“So I am not aware of that and the patient fund projects are spread country-wide and I actually have a list around Matabeleland,” she said.
Dr Muradzikwa cited several projects as examples of investments supported by pension funds.
“We have the Shurugwi Mall, we have the IDBZ project, Willsgrove Park, we have Hoplin Residential Stands, we have the Mangwana Capital Bacadena Project,” she said.
“I have a long list. So actually Matabeleland is not being left out on projects which are being funded by pension funds across the country, it is just that we do not showcase them but the patient funds are doing a lot.”
The exchange comes as Zimbabwe increasingly looks to institutional investors, including pension funds, to mobilise long-term domestic capital for infrastructure, housing and other productive investments.
The Gwayi-Shangani project, in particular, has been identified as a major infrastructure development with potential implications for water security and economic activity in the region.
Delegates at the conference said Dr Muradzikwa’s remarks effectively place the onus on project proponents to develop commercially viable proposals that can withstand investment scrutiny and provide sustainable returns to pension fund members.
