Watch: WestProp’s Chairman Louis hails PPPs in Zim’s infrastructure development
Business Reporter
WESTPROP Holdings Limited board chairperson, Doctor Michael Louis says Public Private Partnerships (PPPs) are key in Zimbabwe’s quest to close the infrastructure deficit.
He made the remarks during the launch of The Hills Luxury Golf Estate recently following the successful unveiling of the project being jointly implemented by WestProp and Harare City Council.
“This project is not only a significant investment but also a milestone in our nation’s development. I am immensely proud that this is the first PPP with the City of Harare, through Sunshine Holdings, which has brought together the strengths of government and private enterprise.
“This collaboration sets a benchmark for future developments across our nation and I on behalf of WestProp want to honor them as our partners and commit to fulfill the vision we together set out to do,” he said.
Dr Louis said the just ended SADC leaders meeting revealed some important facts to the effect that Africa has an annual deficit of US$180 billion of lack of capacity, financing and technical competence to deliver impact infrastructure projects.
It was also established that a pipeline of US$2, trillion in infrastructure projects due by 2025 against a backdrop where less than 10% of impact infrastructure projects get to financial close and 70% fold within 5 to 7 years yet at a time when 375 million young Africans need to enter the workforce by 2030
“The spirit of this gathering is to engender private sector participation in the development of our country, realizing that the challenge is not only the responsibility of government, but also of big business and civil society,” he said.
Meanwhile, the impending project has an excess of 862 residential units and will accommodate about 4,310 people and will see an increase in the available housing stock in the capital city of Harare. The Gold Estate will include 18 hole championship golf course modeled after PGA Tour courses, Villas, apartments, townhouses and retirement flats.
A 5 –star branded hotel linked to a shopping mall and office park, Tennis and Swimming academies among other facilities.
