Cabinet has approved a Public Private Partnership (PPP) for the development of bulk infrastructure at Lot 1 of the Jafuta Estate in the Masuwe Special Economic Zone.
Speaking during yesterday’s Post Cabinet Briefing, Minister of Information, Publicity and Broadcasting Services, Soda Zhemu said, “The partnership will be undertaken between the Mosi Oa Tunya Development Company (MTDC) and JR Goddard Private Limited under a Commercial Joint Venture arrangement.”
He said the Masuwe Special Economic Zone, was established in September 2018 by the Second Republic.
“The Masuwe Special Economic Zone is a flagship National Development Project with the strategic intent to transform Victoria Falls into a diversified, high-value hub integrating tourism, financial services and sustainable real estate.
The Special Economic Zone encompasses 1 200 hectares of Jafuta Estate and is strategically located within the Kavango-Zambezi Transfrontier Conservation Area,” added Minister Zhemu
Under the approved proposal, the project will include the surfacing of eight kilometres of internal roads, upgrading of nine kilometres of gravel roads, and construction of a 13-kilometre water pipeline covering the estate and neighbouring communities.
“The works will also cover the construction of a package water treatment plant, sewerage reticulation system, effluent re-use storage ponds, a power substation, and the provision of management services for the Special Economic Zone,” he said.
Minister Zhemu added that MTDC will contribute 271,5 hectares of land valued at US$25,6 million as equity, while the JR Goddard Consortium comprising JR Goddard Pvt Ltd, Sesani Pvt Ltd, Stewart Scott Zimbabwe Pvt Ltd and GGF Africa Pvt Ltd will inject US$66,9 million towards infrastructure development.
“The shareholding structure will be 39 percent for Mosi Oa Tunya Development Company and 61 percent for the JR Goddard Consortium,” he said.
Minister Zhemu highlighted the benefits of the project.
“The initiative is expected to catalyse high-value investment, enhance sovereign asset utilisation, diversify the tourism economy with world-class infrastructure, and contribute sustainably to Gross Domestic Product.
The project would also drive job creation and socio-economic upliftment of communities, ultimately catapulting the transformation of Victoria Falls into a modern and vibrant economic development city in line with Vision 2030,” Zhemu added.
Meanwhile, the joint venture will operate under a 25-year structured profit recoup period, overseen by a jointly represented board chaired by MTDC, and guided by governance frameworks aligned with National Development Strategy 2.
