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Govt. of Zimbabwe plans to spend US$1 billion on road projects under the Transitional Stabilisation Programme
Zimbabwe government has approve funds for different road projects in the nation. This road project is under the 2019 Road Development Programme which is part of President Mnangagwa administration plans.
The nation has been having challenges funding projects through its private-public-partnerships. This has made them switch to seek financing from the domestic market so as to help fund more projects. Meanwhile, the US$ 1 billion is been mobilize from the two percent Intermediated Money Transfer Tax as well as the Zimbabwe National Road Administration Infrastructure Bond.
Transport and Infrastructural Development Minister Joel Biggie Matiza said ”We embark on our 2030 vision, which aims to transform Zimbabwe. It will be transform into an upper middle income economy. He also said contractors must construct roads which befit that status.”
According to him, the road needs to be revamp as the nation is coming from a recessionary situation. The plan is to have a national standard or even SADC standards of roads so that we are able to ply there and do our economic deliverables easily.
Transitional Stabilisation Programme
The road program is inline with the Government Transitional Stabilisation Programme (TSP). This program outlines that the road, rail and air sub-sectors are critical in rapid industrialisation and agricultural advancement. They will help facilitate trade and movement of goods and people.
Meanwhile, the TSP document will target upgrades from gravel to bituminous surfacing at an average cost of US$500 000 per kilometre. It will also target to complete 20km for each gravel road every year until completion.
Finance and Economic Development Minister Professor Mthuli Ncube said Drawing from the short-term Transitional Stabilisation Programme, the 2019 Infrastructure Investment Plan, with an allocation of over US$900 million, targets to more than double our investment in the road sector.
According to him, the Government was upgrading 781km of Zimbabwe’s road network, re-gravelling 483km and constructing 22 bridges.