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All set for Victoria Falls Infrastructure Summit and Expo

Dzirutwe

Global Renaissance Investments have earmarked an international Infrastructure Summit and Expo involving South Africa, Zambia and Zimbabwe that will take place in the resort town of Victoria Falls from 4 to 7 March 2020 at the famous Kingdom Hotel.

Addressing journalists at the five-star Meikles Hotel in Harare today, Mr. Ngoni Dzirutwe, the Chief Executive Officer of Global Renaissance Investments, the organisers of the much-hyped event, made a clarion call for businesses from across the globe not to miss this important and informative conference on infrastructural opportunities.

“To give you a little background of Global Renaissance Investments, it is a financial advisory services company in the following sectors: financial, infrastructural, agricultural, and ICT among others.

“For that reason, we host this event to try to unveil various infrastructural opportunities in the three countries covering the following areas, energy and power, water and sanitation, road and rail, tourism and housing and ICT,” Mr. Dzirutwe said.

The event will be running under the theme, “Infrastructure key to Economic Growth and Shared Prosperity.” South Africa, Zambia and Zimbabwe are currently experiencing worst-ever power shortages which are driving the cost of production through the roof and slagging economic growth and poverty alleviation in the end.

Last week, Eskom, the power supply company of South Africa announced a Stage 2 load shedding stage, ZESCO of Zambia also issued a statement some time last month that the situation will go to stage 8 and ZESA of Zimbabwe claimed that the stage is now at 1 due to improved imports. This becomes a barrier to accelerating economic growth and development in SADC countries and continental economic linkages at large, hence improved investment in good and sound infrastructure is beckoning.

He said South Africa and Zimbabwe are making strides in promoting the resort town of Victoria Falls. Consequently, tourism infrastructure in the resort town needs to be upgraded to draw more visitors and is the source of income to all the countries directly and indirectly.

Mr. Dzirutwe call for a boost in inter-continental trade and the establishment of one border post and the reduction of road taxes so as to increase trade in Africa.

In Zimbabwe, according to the Ministry of Finance, the impact of electricity availability is 4% growth in mining. The national housing backlog in Zimbabwe is estimated to be at 1, 3 million people. Therefore, this poses an opportunity for those who are in construction and real estate development.

An equivalent of US$149 million as of today’s interbank rate was allocated for roads and dams rehabilitation, an opportunity not to be missed by contractors.

Smart technology is also now a big engine of economic development according to the World Bank, a 10% increase in broadband penetration contributes to 1, 3% GDB growth.

Confirmed speakers include Minister of Energy, Fortune Chasi; Minister of Environment; Mangaliso Ndlovu; Indonesian and Chinese ambassadors, and the Africa People Advisory Executive and ex-Old Mutual Group Executive,  as well as the Zambian Ministry of Works and Supply Project Manager among others.

There will also be diplomats from South Africa, Zambia and the UK as well as ministers of energy, infrastructure development, road and rail from the three countries.

About the author

Byron Adonis Mutingwende