HARARE, Aug. 5 (NewsDay Live) – Harare City Council subsidiary Rufaro Marketing says it is pursuing public-private partnerships (PPPs) to redevelop its land bank and commercial properties as part of a strategy to boost revenue and reposition the company as a leading property development business.
Chief executive officer Ngoni Chimbalu said the company was transforming underutilised assets into commercially viable developments while diversifying its income streams.
“Today, we are aggressively repositioning ourselves as a modern, dynamic real estate and property development powerhouse,” Chimbalu said.
“We are actively exploring public-private partnerships (PPPs) to redevelop our existing land bank and properties into modern commercial spaces, including the construction of secure storage units, micro-retail hubs and integrated business complexes across Harare’s suburbs.”
He said Rufaro Marketing was also expanding into new advertising opportunities by leveraging prime locations within its property portfolio.
“Furthermore, we are venturing into diversified advertising models, capitalising on high-visibility billboard locations across our commercial sites.
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“We are transforming underutilised spaces into high-yield assets,” he said.
Chimbalu, a former finance director at the company, has been credited with improving operational efficiency and strengthening financial accountability at Rufaro Marketing, an entity that has in the past faced allegations of corruption and financial mismanagement.
He said the company was also addressing longstanding weaknesses in property management.
“We are tackling our legacy property management issues head-on with transparency and due process,” Chimbalu said.
“Historically, a lack of clear lease records and rampant unauthorised subletting denied both Harare City Council and Rufaro Marketing critical revenue.”
He added that the company was placing greater emphasis on corporate governance, accountability and community development initiatives as it seeks to rebuild public confidence while expanding its commercial operations.