NSSA backs US$300m smart city project

LIVINGSTONE MARUFU

The National Social Security Authority (NSSA) has emerged as one of the key financiers of the Zimbabwe International Trade Fair Company (ZITF)’s ambitious US$300m Zimbabwe International Conference and Exhibition Eco-Park (ZICEEP), Business Times can report.

The investment reflects NSSA’s evolving strategy of converting workers’ pension savings into productive long-term assets that support economic growth, create jobs and strengthen the country’s commercial infrastructure.

While many Zimbabweans primarily associate NSSA with social protection and retirement benefits, the Authority has quietly become one of the country’s largest institutional investors, channeling pension capital into strategic property and infrastructure developments with both commercial and developmental value.

In an interview, NSSA chief executive officer Dr Charles Shava said the Authority, together with other investors, is targeting completion of the flagship development by September next year.

“NSSA has also emerged as one of Zimbabwe’s leading property developers, investing in commercial infrastructure that supports business growth and economic activity. The ZITF Fairgrounds Mall under construction is chief among many projects that we are pursuing. As NSSA, we are part of that massive project in Bulawayo,” Dr Shava said.

He said the Fairgrounds Retail Centre, also known as the ZITF Retail Project, is a major shopping mall being developed within the ZITF grounds in Bulawayo.

The retail complex forms a central component of the US$300 million ZITF Masterplan, which seeks to transform the city’s iconic exhibition centre into a world-class mixed-use Zimbabwe International Conference and Exhibition Smart Eco-Park (ZICEEP).

“The Fairgrounds Retail Centre development is progressing well and remains on track for completion in the third quarter of 2027. Significant milestones have already been achieved, including completion of the concept and detailed designs, strong leasing progress with key anchor tenants secured, commencement of preliminary site works and bulk earthworks following the appointment of a contractor,” Dr Shava said.

Beyond Bulawayo, NSSA continues to expand its commercial property portfolio through developments that are reshaping urban centres across the country.

Among the Authority’s flagship projects are the Chipinge Shopping Centre, Pomona Shopping Centre, Gwanda Shopping Mall, Celestial Park, Makoni Shopping Mall in Chitungwiza, and several other commercial developments.

NSSA is also planning the Meikles Park mixed-use development in Mutare, a project expected to stimulate investment and commercial activity in Zimbabwe’s eastern region.

Collectively, these developments are creating modern commercial spaces, attracting private investment, supporting entrepreneurship and generating employment opportunities.

The broader ZITF Masterplan is designed to transform approximately 17 acres of prime land adjacent to Bulawayo’s central business district into a vibrant mixed-use precinct combining business, hospitality, retail, entertainment and recreation.

The long-term vision is to modernise the historic fairgrounds by introducing world-class infrastructure capable of positioning Bulawayo as a leading regional destination for business tourism and international exhibitions.

Once complete, the ZICEEP will feature a 5,000-seat international convention centre, a 500-room hotel directly linked to the convention facility and a five-star boutique hotel designed to accommodate visiting heads of state, diplomats and other high-profile guests.

The development will also include a modern retail shopping centre offering a broad mix of shopping, dining and entertainment facilities for visitors and residents.

A heritage-themed park celebrating Zimbabwe’s rich cultural history, prominent historical figures and natural attractions will form another key attraction within the precinct.

The eco-park will further incorporate modern office parks, landscaped public spaces, environmentally friendly recreational areas and pedestrian walkways built to international standards.

In addition to the new developments, more than 25 existing heritage structures within the exhibition grounds will be preserved and modernised, blending historical significance with contemporary design.