Online Reporter
Harmony Agere
THE Cabinet has approved new guidelines for public-private partnerships (PPP), with Government now entitled to hold a minimum 30 percent shareholding in project joint ventures or special purpose vehicles.
Addressing the media during a post-Cabinet briefing, Information, Publicity and Broadcasting Services Minister Dr Zhemu Soda said the new regulations are aimed at strengthening infrastructure development across the country.
“Government has developed new guidelines to be followed by parties (Government and the private sector) during the entire PPP life cycle, encompassing project identification, approval development, appraisal, implementation, monitoring and evaluation and termination of PPPs.”
Minister Soda said the framework is designed to attract private investment into sectors such as water, energy and transport among.
“In addition to providing a structured framework to attract private investment and partnership into essential sectors such as transport, energy and water, the mandatory guidelines will serve as an important reference tool to all stakeholders in the implementation of the PPPs in Zimbabwe,” he said.
“The guidelines will complement the ZIDA Act in the enforcement of policy compliance, ultimately ensuring that Government realises value-for-money through the inclusion of revenue sharing arrangements in joint ventures.”
Other key components of the guidelines include processing procedures and the overall PPP cycle.
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