Published: 14 October 2025

Masvingo Provincial Affairs and Devolution Minister Ezra Chadzamira has called on pension funds to invest in new hotels and lodges across the province to meet rising demand, citing a projected 8.5% annual growth in tourist arrivals.

Speaking at the Zimbabwe Association of Pension Funds (ZAPF) Principal Officers and Chairman Convention in Masvingo last Friday, Chadzamira highlighted the province's underdeveloped hospitality infrastructure and estimated the need for at least 1,500 new hotel rooms by 2027. He encouraged pension funds to consider eco-lodges, boutique hotels, and conferencing facilities as investment opportunities with strong growth potential.

"The hospitality sector presents high returns and supports provincial economic development," Chadzamira said.

He noted that pension funds in Masvingo have already played a transformative role in communities, financing low-cost housing in Chiredzi and Gutu, clinic refurbishments in Zaka and Bikita, and commercial property development in Masvingo urban. These investments, he said, have created jobs, supported SMEs, and improved access to shelter and healthcare.

Urbanisation, he added, has led to a backlog of over 11,000 housing units in Masvingo urban, Chiredzi, and surrounding growth points. Pension funds could unlock value by investing in mixed-use residential developments, combining affordable housing with retail and commercial spaces.

Chadzamira also urged pension funds to explore solar mini-grid projects in the lowveld, noting the success of a 5-megawatt pilot grid in Chikombedzi that powers 2,000 households and 50 enterprises.

ZAPF Chairperson Phoebe Chawasarisa praised the pension sector's role in Zimbabwe's socio-economic development since independence, highlighting its financing of industries, infrastructure, and social safety nets.

However, she reflected on the sector's turbulent history, particularly the hyperinflation era leading up to 2009, which resulted in the catastrophic loss of pension value for many Zimbabweans. "Lifetime savings, faithfully contributed over decades, were wiped out in real terms. The promise of retirement security was broken, and confidence in the system was tested," she said.

The convention, held under the theme "50 Years of Pension Leadership: Sustaining Legacies, Shaping Futures," underscored the need for sustainable investments to secure pensions while driving economic growth and development across Zimbabwe.
- online

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