Public-Private Partnerships have potential to be engines for economic development across the socio-economic spectrum as they unlock strategies critical for sustainable economic recovery, Vice President Emmerson Mnangagwa said. Officially unveiling the Adelaide Park housing project in Epworth last Thursday, VP Mnangagwa said the launch of the project which was financed by the National Building Society (NBS) was a testimony that partnerships can unlock economic growth. NBS financed the first phase of the project at a cost $2 million as part of the bank’s efforts to compliment Government’s commitment of providing 60 000 housing units by 2018.
“The commissioning of this initiative is proof that public private partnerships have potential to be engines for economic development, not only in housing delivery but across the socio-economic spectrum, as they unlock strategies for sustainable economic recovery of the country.
“In line with the Zimbabwe Agenda for Sustainable Socio-Economic Transformation and the Ten-Point Plan, Government created an enabling environment for joint ventures involving local, regional and international partners. This coupled with accelerated effort to foster the ease of doing business, should help confirm the country’s status as a safe and attractive investment destination,” said Vice President Mnangagwa.
“Government recognises the role that financial institutions and private companies play in housing delivery.” The project is an upcoming high to medium density section of at least 2 800 residential stands however the first phase has 730 stands. VP Mnangagwa also commissioned Lafarge Holcim Zimbabwe employees houses which were built through a mortgage facility from NBS.
He said Government has encouraged private land developers and community based programmes such as trusts and co-operatives to partner local authorities in housing development. The vice president however implored the housing delivery sector to act against corruption and noted that the fight against the scourge should be a collective effort.
“Corruption is a cancer that we all must work to eradicate. The disregarding of local authority by-laws and other architectural requirements have far reaching implications on individuals and the economy at large,” said the VP.
The Ministry of Local Government, Public Works and National Housing allocated the 172-hectare Adelaide Farm to the Epworth Local Board for urban expansion in 2004. To develop the farm, the Epworth Local Board partnered property developer, Shelter Zimbabwe and through the approval of the Department of Physical Planning created 1500 low density stands and 3 500 medium to high density stands were set for delivery.