THE Harare Institute of Technology (HIT) has unveiled a US$3 billion investment portfolio spanning infrastructure, energy, housing and healthcare, as it positions itself as one of Zimbabwe’s most ambitious innovation-led development hubs.
The projects are designed to deliver strong financial returns while contributing to national industrialisation, with the institution indicating that pension funds could leverage on them.
This was revealed by HIT Pension Fund principal officer and the institution’s Registrar, Herbert Njonga, in his contributions during a panel discussion at the just-ended Zimbabwe Association of Pension Funds Principal Officers and Chairpersons Convention in Masvingo last week.
Njonga, who was speaking on investment opportunities available at HIT for pension funds, said the university’s investment pipeline includes a US$97 million hospital, an US$87 million hotel, student hostels for 2 000 learners worth US$3 million, 520 residential housing units, and a renewable energy manufacturing initiative requiring up to US$2 billion in expansion capital.
At the centre of the rollout is the HIT Development Valley, a 192-hectare technology and industrial park located between Samora Machel Avenue and the Coventry industrial area near the National Sports Stadium.
The futuristic “African tech republic” will host commercial, residential, and industrial facilities built to reflect Zimbabwe’s heritage-based innovation model.
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Njonga said pension funds were being courted as strategic investors to anchor these projects, which blend academic innovation with industrial productivity.
“These are not just institutional projects, but national development catalysts. Pension funds can play a vital role in financing a new wave of Zimbabwean industry,” he said.
Njonga said HIT had also made headway in renewable energy, producing 50 lithium batteries per day from locally processed ore, with plans to ramp up output to 90 units and later manufacture electric vehicle batteries.
He added that the university’s engineers had developed solar panels that are 35% cheaper and more efficient than market alternatives, though production is still manual.
“We are building an African tech republic rooted in our heritage-based curriculum and industrial innovation. Pension funds can play a critical role in realising this vision,” he added.
Njonga said between US$500 000 and US$2 billion is needed to mechanise operations and expand output to meet national demand.
In the health sector, he said HIT was developing a specialised hospital and has begun local production of ultrasound gel, a consumable largely imported into Zimbabwe.
Scaling up, Njonga said, this would help strengthen domestic supply chains and reduce import dependence.
He noted that all HIT investments operate under a three-tier governance framework comprising the university, the Institute of Governance (which manages investments and holds equity in start-ups), and HIT Development Valley Investments, a private commercial entity that drives project execution with business agility.
“Now have a chance to invest in projects that are not only profitable, but transformational for Zimbabwe’s future,” Njonga concluded, emphasising the long-term national and economic impact of HIT’s initiatives.