Source: US$66.9 million Jafuta deal to transform Victoria Falls – herald
Rutendo Nyeve, rutendo.nyeve@sundaynews.co.zw
THE cabinet has approved a US$66.9 million Public Private Partnership to develop bulk infrastructure on Lot 1 of Jafuta Estate within the Masuwe Special Economic Zone (MSEZ), unlocking major economic transformation for Victoria Falls.
The Commercial Joint Venture between Mosi Oa Tunya Development Company (MOTDC) and the JR Goddard Private Limited Consortium will see critical infrastructure built across 271.5 hectares, including road networks, water supply systems, sewerage reticulation, and a power substation.
Speaking during a post cabinet briefing, the Minister of Information Publicity and Broadcasting Services Soda Zhemu announced the approval, noting that the MSEZ spans 1 200 hectares of Jafuta Estate outside Victoria Falls, strategically located within the Kavango-Zambezi Transfrontier Conservation Area.
Infrastructure works include surfacing 8km of internal roads, upgrading 9km of gravel roads, constructing a 13km water pipeline, a package water treatment plant, and effluent storage ponds.
Under the deal, MOTDC contributes land valued at US$25.6 million as equity-in-kind, while the JR Goddard Consortium provides US$66.9 million for construction. Shareholding stands at 39 percent for MOTDC and 61 percent for the consortium. The joint venture operates under a 25-year profit recoup period.
“The project will unlock numerous benefits including catalysing high-value investment, strategic diversification of the tourism economy, downstream job creation and socio-economic upliftment of communities,” said Minister Zhemu.
The Ministry of Tourism hailed the approval as a historic milestone, saying it will bolster key facilities including the under-construction international cricket stadium, medical facilities, hotels, a commercial centre, the Victoria Falls Stock Exchange, and a tourism academy.
The development is expected to propel Victoria Falls towards Vision 2030, transforming the resort city into a vibrant economic hub.
The post US$66.9 million Jafuta deal to transform Victoria Falls appeared first on Zimbabwe Situation.