WestProp chairman calls for more PPPs in Sadc region
AS the Southern African Development Community (Sadc) Industrialisation Week and Investment Conference kicks off in Harare, WestProp Holdings chairman Dr Michael Louis, has emphasised the importance of collaboration, public-private partnerships and strategic investment in driving regional economic growth and development.
“In unity lies our strength,” Dr Louis said. “As neighbouring countries, we must deepen our collaboration, harmonise policies and invest in joint infrastructure projects to create a more integrated and resilient regional economy.”
Dr Louis highlighted WestProp Holdings’ commitment to public-private partnerships, citing the company’s involvement with the City of Harare on Mbudzi Market and The Hills Luxury Golf Estate projects.
He also announced the launch of 600 new stands and the construction of apartments at Pomona City as well as Block 5 of Millennium Heights.
“Public-private partnerships are crucial for sustainable development,” Dr Louis noted. “By engaging the private sector, we can leverage investment yields, expertise and innovation to drive growth.”
However, it must not only be talk shows.
The private sector must remain a key driver with commitment to investment capital and ahead of the curve in raising the standard and keeping up with latest technology. Already, this year Westprop has committed $174m to new property projects.
To this end further announced two key strategic partnerships that Westprop has just entered into.
Firstly, in line with the company mantra of Live, shop, work and play, Westprop has bought shares in West Security Services and providing safety and security for families remains key to the organisation.
West Security has been vested in Harare for 10 years and has also announced its strategic partnership with Omega Risk Solutions, one of Africa’s largest security companies vested in seven Southern African countries with more than 15 000 security guards.
“Our focus is on integrated security solutions. Our view is that Zimbabwean offers an opportunity for growth,” he said.
Another strategic partnership announced was with Alarmmaster. Alarmmaster has been a leading machine to machine learning company in South Africa for the past 18 years and also specialises in all home automation, security surveillance and latest safety AI.
Sadc must not fall behind on the technology stampede that is about to happen.
There is a massive chance that there is a risk that Africa is left behind during this technological transformation and instead of being a leader, we will be chasing this tail of disruption and sourcing all new products and services outside the continent, rather than building them within and letting Africa thrive in the future.
Dr Louis also stressed the importance of encouraging and securing pension fund investment partnerships, citing WestProp Holdings’ has in its portfolio prescribed asset classification. “Pension funds are a significant source of long-term capital,” he said. “By strategically channeling these funds into developmental projects, we can stimulate economic growth while ensuring sustainable returns for pensioners.”
The WestProp Holdings chairman emphasized the need for collective action to achieve sustainable economic growth and development in the SADC region. “Let us work together to unlock the potential of our region and transform SADC into a beacon of progress and prosperity.”-ebusinesweekly
