Harare City hunts for investors
The City of Harare is scouting for investors willing to partner it in the re-development of the city, especially the central business district (CBD) to restore its previous glory.
This comes amid rising concerns over the old and dilapidated infrastructure in the city, which can no longer cope with the increased day and night population.
As a result, some businesses are beginning to shun the CBD opting for office parks and suburban offices that are more comfortable.
Responding to questions during the ZimReal Property Investment Forum held in the capital recently, City of Harare director of works Engineer Norman Karidza, said the city was cognisant of the concerns being raised by businesses over what has become of the city.
He, however, said the city was resource constrained to fund the rejuvenation of the city and therefore was looking for partners.
“We want to reach out to potential investors for partnerships. City of Harare is now incapable of funding themselves,” he said.
Karidza added that the showgrounds, Borrowdale local development plan, Avondale and the ED Mnangagwa (former Enterprise Road) corridors are an outcome of the investment partnership.
In 2019, at the Urban Renewal Programme launch, it was revealed that the growing population in Harare was the cause of infrastructure fatigue. This has led to businesses moving out of the CBD to office parks, suburban offices, residential offices and some out of the country as they avoid pollution in all its forms.
University of Zimbabwe Lecturer, Audrey Kwangwama, bemoaned the sorry state of the CBD saying there was also lack of political will from the city fathers.
“There is definitely a lack of political will from both the local authority and central Government. Issues of water shortages in the city is forcing people to use bucket system.”
Property Owners Association of Zimbabwe president, Edson Muvingi, concurred.
“We have so many ideas and we are very much committed towards this cause but whenever we come up with the proposals, there is no one to sign the documents. Nothing gets done,” he said.-ebusinessweekly
