Online Reporter
Rutendo Nyeve, [email protected]
CABINET has given the green light to a Public Private Partnership (PPP) for the development of bulk infrastructure on Lot 1 of Jafuta Estate within the Masuwe Special Economic Zone (Msez), paving the way for a US$66,9 million investment that promises to reshape Victoria Falls into a modern, diversified economic hub.
The approval, announced on Tuesday, formalises a Commercial Joint Venture between Mosi Oa Tunya Development Company (MOTDC) and JR Goddard Private Limited (JRG) Consortium.
The deal will see the development of critical infrastructure across 271,5 hectares, including road networks, water supply systems, sewerage reticulation, and a power sub-station.
Speaking during a post-Cabinet briefing, Minister of Information, Publicity and Broadcasting Services, Zhemu Soda, detailed the scope of the approved project.
“Cabinet approved the Proposed Public Private Partnership for the Development of Bulk Infrastructure on Lot 1 of Jafuta Estate in Masuwe Special Economic Zone, Victoria Falls, between Mosi Oa Tunya Development Company (MTDC) and JR Goddard Private Limited (JRG), which was presented by the Minister of Finance, Economic Development and Investment Promotion,” said Minister Soda.
He explained that the Msez, established by the Second Republic in September 2018, spans 1 200 hectares of Jafuta Estate outside Victoria Falls city and sits strategically within the Kavango-Zambezi Transfrontier Conservation Area (Kaza-TFCA).
The proposed bulk infrastructure works include surfacing eight kilometres of internal roads, upgrading nine kilometres of gravel roads, constructing a 13km water pipeline covering the entire 1 200 hectares and neighbouring communities, building a package water treatment plant, a sewerage reticulation system, effluent re-use storage ponds, and a power sub-station, as well as providing management services for the Special Economic Zone.
Minister Soda said a rigorous evaluation was undertaken in line with the Zimbabwe Investment and Development Agency (Zida) Act and PPP guidelines.
Under the joint venture, MOTDC will contribute 271,5 hectares of Jafuta Estate as equity-in-kind, valued at US$25,6 million.
The JR Goddard Consortium — comprising JR Goddard Pvt Ltd, Sesani Pvt Ltd, Stewart Scott Zimbabwe Pvt Ltd, and GGF Africa Pvt Ltd — will provide US$66,9 million for construction. Shareholding will be 39 percent for MOTDC and 61 percent for the consortium.
“Cabinet noted that if implemented, the project will unlock numerous benefits to the country including catalysing high-value investment, sovereign asset utilisation, strategic diversification of the tourism economy with world class infrastructure, sustainable fiscal contribution to Gross Domestic Product (GDP), downstream job creation and the socio-economic upliftment of communities,” said Minister Soda.
The joint venture will operate under a 25-year structured profit recoup period, with a proportionally represented Board chaired by MOTDC, guided by the National Development Strategy 2.
Meanwhile, the Ministry of Tourism and Hospitality Industry has hailed the approval as a historic milestone.
“The Ministry of Tourism and Hospitality Industry welcomes Cabinet’s approval of the Lot 1 Jafuta Estate Development project in the Masuwe Special Economic Zone for Tourism in Victoria Falls, a defining milestone in advancing Zimbabwe’s Tourism Infrastructure and Investment Landscape,” the Ministry said in a statement.
“Envisioned in 2012, this landmark project has now come to fruition today. With Masuwe Special Economic Zone for Tourism established in 2012, today marks the delivery of a long-awaited National vision.
“This is a bold testament to Zimbabwe’s unwavering commitment to turning vision into tangible transformation.”
The ministry said through MOTDC, Government is contributing land equity to unlock private sector investment.
The development will bolster key facilities including the under-construction International Multi-purpose Cricket Stadium, medical facilities, a golf estate, hotels, villas, chalets, lodges, a commercial centre, holiday homes, the Victoria Falls Stock Exchange, a financial district, shopping mall, and a tourism academy.
“This transformative development will strengthen critical infrastructure, positioning Zimbabwe as a Competitive, Sustainable and high-value Tourism destination,” the Ministry added.
“It will elevate tourist experiences, stimulate economic growth and contribute meaningfully to the National Development Strategy 2.”
The project is expected to catapult Victoria Falls towards attaining Vision 2030, transforming the resort city into a vibrant economic development hub.
Sidumisile Mabena