Online Reporter
Rutendo Nyeve
THE Zimbabwe Investment and Development Agency (Zida) is courting local and international investors to participate in the development of Lot 1 of Jafuta Estate, a flagship project within the Masuwe Special Economic Zone (SEZ) in Victoria Falls.
The area, which is owned by Mosi oa Tunya Development Company, sits on 271,5 hectares and was declared a SEZ on 28 September 2018 through a General Notice 747 of 2018 with the objective of creating a tourism and financial services hub.
The vision for the Masuwe SEZ is to enhance tourism-related activities by integrating tourism, recreational and sporting facilities, with commercial, medical and conference centres as well as an international finance centre and other complementary developments.
“Spanning 271,5 hectares, this ambitious initiative, owned by the Mosi os Tanya Development Company, aims to establish a world-class tourism and financial services hub, aligning with Zimbabwe’s broader economic diversification and growth strategy.
“Victoria Falls is Zimbabwe’s premier tourism destination and provides an ideal backdrop for this project, which seeks to address the current shortage of high-quality amenities to cater to the rising tourism sector,” said Zida.
The development of Lot 1 encompasses a wide range of infrastructure and facilities including the construction of roads, water and sewer systems, power grids and telecommunication networks to support the zone’s growth.
The project will also include the building new villas, lodges, and holiday homes, as well as a tourism and hospitality school to nurture local talent.
“Commercial and financial services will include the establishment of a commercial centre with retail spaces, offices and an international financial services centre to attract global businesses. This will be further complemented by the development of two medical centres, a golf course and a multi-purpose international cricket stadium, with the multi-purpose international cricket stadium already under construction,” said Zida.
The project is divided into several key components, each with its own estimated cost, totalling approximately US$150 million.
“These components are estimated at US$81,6 million for core infrastructure, US$15,9 million for medical centres, US$7,8 million for villas and holiday homes, US$17 million for the commercial and financial services centre, US$10,7 million for the tourism and hospitality school, US$10 million for the golf course and US$7,5 million for the cricket stadium,” said Zida.
Zida is leveraging the project’s potential to generate significant employment opportunities, stimulate local economies, and position the country as a competitive player in the global tourism and financial services markets.
The agency is offering incentives such as tax breaks, streamlined regulatory processes and guaranteed repatriation of profits to attract investors. With its strategic location, comprehensive development plan, and robust financial incentives, Lot 1 of Jafuta Estate represents a golden opportunity for investors seeking to capitalise on Zimbabwe’s growing tourism and financial sectors.
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