GOVERNMENT is planning on raising $20 million to fund outstanding works at Tokwe-Mukosi Dam.
BY BUSINESS REPORTER
Infrastructure Development Bank of Zimbabwe (IDBZ) chief executive officer Thomas Sakala told an analyst briefing that their bank has been assisting government to raise funds for the completion of the Tokwe-Mukosi project by year-end.
He said the project had a capacity to supply water for 25 000 hectares of land to existing and large scale estates and newly resettled areas.
“I am happy to confirm that we raised $65m through Treasury Bills, which shows the kind of challenges that we have when we have a contractor financing project expenditure before government gets the money. As of last month, we needed to raise an additional $20m and there has been a clear commitment by Ministry of Finance,” Sakala said.
In 2015, $96,5m was allocated to PSIP [public sector investment programmes] dams and water supply projects under the group’s management and $43,5m of the amount was channelled towards the construction of Tokwe-Mukosi Dam. The cumulative cost for Tokwe-Mukosi Dam funded by government stood at $270,2m.
As of December 2015, 95% of the physical structure of the dam was completed.
Sakala said the bank had been managing PSIP funds for the infrastructure projects that included transport, water and energy.
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He said the bank was working with the Zimbabwe National Water Authority to raise close to $1m for a dam in Gokwe, Mutange.
He said government spent $9m to construct the dam, but the water was not being used properly as there was no pump.
