Zimbabwean companies taking part in the ongoing Services Business Mission to Zambia have identified strategic opportunities to enter the neighbouring country’s housing finance market.
This follows high-level business match-making sessions with a specialised mortgage provider, ZambianHOMELOANS, held during the Services Business Mission, which started on June 9 and ends today.
The engagements could unlock export opportunities for Zimbabwean professional services while supporting Zambia’s property industry.
The discussions held on the sidelines of the services trade mission organised by ZimTrade in Lusaka centred on a proposal for a Memorandum of Understanding (MoU) with the Zambian mortgage financier.
The deliberations may pave the way for the exchange of specialised services and housing finance solutions.
Under the framework, Zimbabwean firms would provide a range of professional services, particularly in the construction, engineering, architecture, quantity surveying, project management and related sectors.
ZambianHOMELOANS would facilitate mortgage financing for property developments and home-buyers in Zambia.
The partnership may create a mutually beneficial ecosystem linking Zimbabwe’s expertise in the construction and infrastructure space with Zambia’s expanding demand for housing and real estate financing.
Business leaders from Zimbabwe, who are part of the ZimTrade exploratory trade mission, said Zimbabwe possesses significant technical and professional capabilities developed over decades.
These cover engineering, building design, project implementation and consultancy services.
The expertise is increasingly in demand across the region as neighbouring countries accelerate infrastructure development and urbanisation programmes.
Institute of Architects of Zimbabwe (IAZ) president and architect Mr Ishumael Gura said Zimbabwe has deep expertise in architecture and is willing to tap into the Zambian market.
“Zimbabwe possesses a strong pool of highly skilled architectural professionals with extensive experience in designing and delivering projects across various sectors.
“As the regional market continues to expand, we see significant opportunities in Zambia and are keen to leverage our expertise to support the country’s growing construction and infrastructure development needs.
“We believe there is substantial potential for collaboration between Zimbabwean architects and Zambian stakeholders, creating mutual benefits while contributing to sustainable urban development and economic growth in the region,” Mr Gura said.
Mrs Gloria Zhou from Six Nine Construction said her company is ready to tap into the construction and technical service opportunities in Zambia, which the company identified during the Services Business Mission.
“The Services Business Mission organised by ZimTrade has provided us with valuable insights into the opportunities available in Zambia’s construction and technical services sectors.
“As a company, we are ready to tap into these opportunities by leveraging our expertise, experience and innovative solutions to support Zambia’s growing infrastructure and development needs.
“We believe there is significant potential for mutually beneficial partnerships and collaborations that can drive growth for our business while contributing to the development of the Zambian economy,” said Mrs Zhou.
ZambianHOMELOANS head of monitoring and evaluation, Mr Kennedy Kaonga, said collaborations under a ZimTrade-facilitated framework would address challenges Zambia firms have encountered in the past.
“We would be glad to work with building and construction experts that come under the professional banner of ZimTrade because we have had challenges with some independent tradesmen from Zimbabwe.
“It will therefore be prudent if we have an MoU with ZimTrade, so that we have access to credible expertise while we cater for Mortgages for those who want to build residential, industrial and commercial buildings here in Zambia,” he said
The engagement comes at a time when Zambia is experiencing strong growth in its property market, driven by rapid urban expansion, population growth and increasing demand for affordable housing.
For Zimbabwean firms, the proposed collaboration could open access to new revenue streams through the export of professional services, a key area being prioritised by ZimTrade.
This comes as Zimbabwe seeks to diversify its export basket beyond traditional merchandise exports.
Services exports have emerged as an increasingly important source of foreign currency earnings globally, contributing significantly to economic growth, employment creation and knowledge transfer.
Trade experts say that, unlike the export of goods, service exports often require lower capital investment while generating high-value returns through intellectual property, specialised skills and professional expertise.
The MoU would strengthen regional economic integration by facilitating cross-border business partnerships between Zimbabwean and Zambian enterprises.
Participants in the meetings said the arrangement could serve as a model for future collaborations involving financial institutions and service providers across Southern Africa.
The mission reflects a shift in Zimbabwe’s export promotion strategy, which is increasingly targeting regional markets for services in sectors such as construction, information and communication technology, education, consultancy, engineering and professional services.-herald
