Harare, (New Ziana) –The Zimbabwe government has approved a major US$66.9 million public-private partnership (PPP) set to accelerate the transformation of the resort town of Victoria Falls into a modern economic hub, a Cabinet Minister said on Tuesday.
Information, Publicity and Broadcasting Services Minister Dr Zhemu Soda said this during a post-Cabinet media briefing in Harare.
Dr Soda said Cabinet had given the green light to a proposed partnership between the Mosi Oa Tunya Development Company (MTDC) and JR Goddard Private Limited (JRG) for the development of bulk infrastructure on Lot 1 of Jafuta Estate in the Masuwe Special Economic Zone.
“Cabinet approved the proposed Public Private Partnership for the development of bulk infrastructure on Lot 1 of Jafuta Estate in the Masuwe Special Economic Zone, Victoria Falls. The project represents a significant milestone in unlocking high-value investment and accelerating infrastructure development in the area,” he said.
He described the Masuwe Special Economic Zone as a flagship initiative established in September 2018 under the Second Republic, with the strategic goal of transforming Victoria Falls into a diversified economic centre.
“The Special Economic Zone encompasses 1 200 hectares of Jafuta Estate and is strategically located within the Kavango-Zambezi Transfrontier Conservation Area. Its development is central to Government’s vision of integrating tourism, financial services and sustainable real estate.”
Dr Soda explained that the project will deliver critical infrastructure, including the surfacing of 8 kilometres of internal roads, upgrading of 9 kilometres of gravel roads, and construction of a 13-kilometre water pipeline to service both the estate and surrounding communities.
“The development will also include a water treatment plant, sewerage reticulation system, effluent re-use storage ponds, and a power substation, as well as management services for the Special Economic Zone,” he added.
He said the project proposal underwent rigorous evaluation in line with the Zimbabwe Investment and Development Agency framework and Public Private Partnership guidelines.
Under the agreed structure, the Mosi Oa Tunya Development Company will contribute 271.5 hectares of land as equity, valued at US$25.6 million, 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 see the Mosi Oa Tunya Development Company holding 39 percent, while the JR Goddard Consortium will hold 61 percent,” said Dr Soda, noting that Cabinet expects the project to generate wide-ranging economic benefits.
“The project will catalyze high-value investment, enhance utilization of sovereign assets, and drive the diversification of the tourism economy through world-class infrastructure. It will also contribute sustainably to Gross Domestic Product, create downstream employment opportunities and uplift local communities,” he explained.
Dr Soda added that the joint venture would operate under a 25-year structured profit recoupment period, managed by a proportionally represented board chaired by the Mosi Oa Tunya Development Company.
“The governance framework will ensure that the project remains aligned with the country’s National Development Strategy 2 and broader Vision 2030 aspirations,” he said.
The approval marks a significant step in positioning Victoria Falls not only as a premier tourist destination, but also as a dynamic economic development city.
New Ziana
