Farai Mabeza, Senior Staff Writer 
CBZ Holdings says it is offering funding for infrastructure development to local authorities across the country, starting with a model project for councils under the Harare Metropolitan province.
CBZ wholesale, corporate, and investment banking executive Phibeon Mutibura told The Financial Gazette that the institution was proposing a public /private partnership model with the local authorities.
“At CBZ Holdings, we firmly believe that collaboration between the public and private sectors is essential for the success of any region, and we are committed to being strategic partners to the local authorities in the Harare Metropolitan province,” Mutibura said on the sidelines of a meeting with Harare Metropolitan province councillors.
“We are proposing a collaboration with the Harare Metropolitan province where we come together to revive areas of challenges like areas of infrastructure development. …the city of Harare has gone down a really challenging path where even collection of rates is becoming a challenge because they are not providing services.”
He said CBZ had a huge appetite for the project and explained that the size of the fund would be determined by proposed projects. He added that the project would also bring on board other financial institutions in the country.
“Depending on how the projects look like we should be able to come up with a decent package that will support the infrastructure rehabilitation of Harare. Without syndication, we are able to do a single transaction of up to US$30 million.
“So if they come up with something that is compelling we should be able to support up to that extent. But overall, we should be able to either syndicate or risk share with other banks or other financial services institutions, both local and regional. We can also partner with DFIs, (development financial institutions) particularly where long-term funding is required.
“We are trying to build a model for Harare that can be replicated and rolled out across the country. So, if we get it right here, which we are confident we will, we should be able to replicate it across the country. So we will set this one as an example of how public/private partnerships can work,” Mutibura said.
He said Kigali, the capital and largest city of Rwanda, which formed a strategic partnership with the Development Bank of Rwanda for infrastructure development, was a perfect case study of the project.
“The partnership between the City of Kigali and the Development Bank of Rwanda focused on financing key infrastructure projects, including road construction, water and sanitation systems, waste management facilities, and public transportation.
“The Development Bank of Rwanda provided long-term loans and financial expertise, while the City of Kigali contributed its local knowledge, project management capabilities, and commitment to sustainable development,” Mutibura said.
“Through this collaboration, significant infrastructure projects were successfully implemented, transforming the urban landscape of Kigali.” newsdesk@fingaz.co.zw
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