LIVINGSTONE MARUFU/GAMUCHIRAI TSOKOTA
Listed financial institution ZB Financial Holdings says it will help government in the mobilisation of $20 million for the reconstruction of bridges and roads to ease accessibility to the Cyclone Idai affected areas in Manicaland.
The development comes at a time when more than 50% of the road network in Chipinge and Chimanimani was wiped off when the cyclone hit the area two weeks ago. Over 13 roads and bridges were said to have been damaged in the process.
ZB chief executive Ron Mutandagayi told Business Times that the financial institution will
work with ZINARA to begin road infrastructure reconstruction.
“We are at an advanced arrangement with Zinara concerning the mobilisation of funds for
reconstruction of the roads, detours and bridges in Chipinge and Chimanimani as we move to help the movement of people and goods in the affected areas.
“Of the $20 million needed to do the job, we will have our share but we are not yet sure how much money we will spend on that project but what we are certain of is that we will
spend millions of dollars towards the initiative,” Mutandagayi said.
Since 2016, ZB raised over $200 million through ZINARA bonds in the reconstruction, resurfacing and dualisation of roads after half of the country’s road network was wiped
out by flash floods.
The financial institution had planned a five year plan worth $1 billion with South African
company called Neo Capital but the uncertainties in the economy have stalled the project.
Meanwhile, giving a full status update last Friday, Manicaland Provincial Administrator Edgars Seenza said the Ministry of Transport and Infrastructure Development had
so far contracted two companies to carry out rehabilitation works.
Since the Cyclone Idai devastation on March 14, companies like Ariston and Tanganda among others could not access markets due to damaged roads.
Government has already contracted JR Goddard (Pvt) Limited to work on various sections
of the Wengezi-Chimanimani Road and so far, an 11km stretch from Heatfield Primary School to Peacock has been completed.
Already two detour roads at Mhandarume and Nyahodi bridges have already been opened to traffic.
According to the Ministry of Transport, a Chinese company had been contracted to work on
the Skyline-Charter-Ngangu Road section where realignment of the road and clearing of debris was being carried out.
In an effort to fill the gap, the Zimbabwe Defence Forces have built makeshift bridges to help the victims cross and get aid.
