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Business Reporter
Zimbabwe should consider the use of transport science research to come up with concrete solutions to its infrastructural problems, Transport and Infrastructural Development Minister Dr Obert Mpofu has said.“The deteriorating level of infrastructural development in Zimbabwe is such that transport science research has become more relevant now than ever before in order to provide innovative and effective technologies and cost effective transportation solutions and hence contribute towards economic development,” he said. Minister Mpofu said this in a speech read on his behalf during a dinner to fund raise for the 7thAfrica Transport Technology Transfer Conference that the country will host in Victoria Falls from May 11 to May 15.

The conference, which will run under the theme: “Mobilising finance for transport infrastructure development and maintenance for poverty alleviation in Africa”, is set to attract about 300 delegates mostly from different Africa countries and others from the United States, Europe, Latin America, Asia and Australia.

The conference is being organised by the ministry in partnership with the Association of Southern African National Road Agencies, which has been organising the Africa Transport Technology Transfer Conference through its Technology Transfer Committee.

Dr Mpofu said that a robust, efficient and cost effective transport system was critical for economic recovery not only in Zimbabwe, but in the region as it promotes the robust and dynamic industrial and enterprise sectors that the region relies on.

He said the robust and dynamic sectors include tourism, mining and agriculture.

“Zimbabwe and the SADC region has abundant mineral resources that if exploited can contribute significantly to economic recovery.
“The availability of efficient and competitively priced transport infrastructure is, therefore, a necessary ingredient for successful economic development, a fact which has long been recognized world-wide,” he said.

Dr Mpofu said in view of the need to provide up to date infrastructure for economic growth, road agencies from the region should co-ordinate their efforts to harmonise policies and strategies and enact effective strategies to enable desired results to be delivered.

He added that the agencies should also look at strategies to come up with adequate funding and well targeted resource allocation for interventions and related management function as well as create robust and systematic monitoring and evaluation to measure progress.

Dr Mpofu said that the conference was key in this regard as it brings together people from different backgrounds to discuss issues related to the development of infrastructure in the region.

“The conference attracts some of the world’s foremost academics and professionals in the transport sector,” he said.

“Participating at the conference will be captains and professionals in the transport sectors from regional and international organisations, with the objective of improving regional trade through development of transport infrastructure resulting in economic growth.”

Meanwhile, AfDB country representative Mr Mateus Magala said that African countries need to invest wisely and should prioritise infrastructure, which has become an attractive asset class.

He added that Africa’s infrastructure needs were estimated at $95 billion with a financing gap of $50 billion per annum, over the next 10 years while each of the sources of financing utilised by countries so far have been found to have some limits.

“If the gap is to be closed the bank thinks a new approach is needed to tap into both Africa’s pool of savings as well as globally.  There is a view that at this time, when many countries are accumulating huge amounts of surpluses from natural resource discoveries, it is opportune time for African countries to invest in Africa.

“Africa is currently investing its half a trillion dollar savings abroad from its newly discovered wealth, oil, gas etc. Africa has to be smart in utilising an attractive investor base made up of various funds: Sovereign Wealth Funds, pension funds, insurance companies’ funds, and many others. Globally official foreign exchange reserves are at $11,1 trillion; SWFs at $5,8 trillion; and pension funds at $30 trillion,” he said.

Noting the limited traditional resources, Mr Magala said the Bank decided to design a new vehicle to respond to the infrastructure needs and financing gap through the creation of the Africa 50, last year.

“It is an innovative financing mechanism with the goal of mobilising domestic and external resources to finance African infrastructure development.

“It is also an autonomous entity, run on private sector principles, legally and financially independent from the Bank focusing on transformational but commercially viable projects,” he said. The conference comes at a time when the World Bank says Zimbabwe will require $33 billion for infrastructure projects over the next 20 years to ensure economic growth.

Of this $11,3 billion is required for electricity generation-related projects alone while another $13,4 billion should be allocated towards transport infrastructure development .

The country has already started working on some of the infrastructure with one notable project being the $206 million rehabilitation and upgrading of the Plumtree-Mutare road by Infralink, a special purpose vehicle set up by Group Five and Zinara, which is almost complete.

Another project, the dualisation of the Beitbridge — Chirundu highway, is under consideration after Government secured $350 million for the project.