Published: 1 hour ago

The Government has approved a major land development agreement with a consortium led by JR Goddard to develop 271 hectares of commercial land near Victoria Falls.

The project will take place on Lot 1 of Jafuta Estate, located within the Masuwe Special Economic Zone in the Kavango-Zambezi Transfrontier Conservation Area, a key regional tourism and conservation corridor.

Under the deal, State investment arm Mosi Oa Tunya Development Company will contribute 271.5 hectares of land as equity, valued at US$25.6 million, securing a 39% stake in the project. The JR Goddard-led consortium will hold 61% in exchange for an infrastructure investment of US$66.9 million.

The consortium is expected to deliver critical infrastructure, including roads, a 13-kilometre water pipeline, a water treatment plant, sewer systems and a power substation, laying the foundation for commercial and tourism-linked developments.

The partners will recover their investment over a 25-year period.

The project was tendered last year through the Zimbabwe Investment and Development Agency.

Other members of the consortium include Sesani, Stewart Scott Zimbabwe and Genesis Global Finance.

The JR Goddard consortium is also separately involved in fundraising efforts for the Glass Block Dam project in Bulawayo, highlighting its expanding footprint in Zimbabwe's infrastructure sector.
- BusinessDaily

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