Government has approved new Zimbabwe Public Private Partnership (PPP) Guidelines aimed at strengthening collaboration between the State and private sector in infrastructure development, the Minister of Information, Publicity and Broadcasting Services, Soda Zhemu, said during today’s post-Cabinet briefing.
Addressing the media, Minister Zhemu said, “Cabinet received and approved the Zimbabwe Public Private Partnership Guidelines as presented by the Minister of Finance, Economic Development and Investment Promotion.”
He said the move was part of ongoing efforts by the Government to refine its investment framework.
“The Government of Zimbabwe continues to fine-tune the existing PPP framework aimed at leveraging capital and expertise for all infrastructure projects across the country,” he said.
Minister Zhemu explained that the new Guidelines provide a comprehensive structure to govern partnerships from inception to completion.
“Government has developed new Guidelines to be followed by parties, that is 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,” he added.
He noted that the Guidelines are mandatory and are designed to attract private capital into key sectors.
“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 Minister said the Guidelines will complement the ZIDA Act in enforcing policy compliance and ensuring value-for-money through revenue sharing arrangements in joint ventures.
“The Guidelines outline financial, technical and operational risks to be shared between the Government and private partners, ensuring that risks are borne by the party best able to manage them,” he noted.
Minister Zhemu further highlighted that under the new PPP framework, the Government is entitled to a minimum 30% shareholding in Project Joint Ventures or Special Purpose Vehicles, with the option to increase its stake.
“The Guidelines are a key milestone in enhancing transparency, accountability and efficiency in public-private partnerships, ultimately unlocking private investment for Zimbabwe’s socio-economic development,” Minister Zhemu concluded.
The new Guidelines are expected to pave the way for faster, more structured delivery of infrastructure projects while providing clarity to both Government and private sector participants.
