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Strong economies are built on their physical infrastructure. An economy is, in other words, as strong, or as weak, as its physical infrastructure.

The Second Republic is cognisant of that fact; hence it is investing huge sums of money in building new and rehabilitating infrastructure — roads, airports, power plants, clinics, hospitals, schools, irrigation systems, dams and the like. That has been the stand-out record of the past five years.

However, the infrastructure is being built through the fiscus which presents a number of challenges.

To address this financing weakness, development partners including the private sector must step in, use their resources to build the infrastructure that the Government is building.

President Mnangagwa put this point most clearly yesterday. Delivering the keynote address at the 2023 Infrastructure Summit and Expo in Victoria Falls, he said the Government cannot go it alone.

Professor Mthuli Ncube

“If we develop the mindset that the Government through the Minister of Finance, Professor Mthuli Ncube, will release all the money to development infrastructure, then we are not being serious,” he said.

“You want good roads, good railway line network, air services, and various facilities in the country, and then we say all these should be brought about by someone collecting taxes, chasing people who are avoiding collecting tax . . . no! If you want to grow your money, you must invest it, it does not grow when it stays in the bank or under the pillow.

It grows when invested and it will continue to grow and yield profit. And you will be counted among those who have contributed to the growth and modernisation of your country.”

Local business — financial institutions, mines and other companies, even individuals — are urged to consider the President’s call for them to play a more constructive role.

There is much money to be made if they take up the challenge. The partnership that poured US$300 million to modernise the Beitbridge Border Post is in for the money over the next 17 years or so. Unfortunately, this is a foreign consortium which saw an opportunity to make a difference, while making good money for themselves.

Investors who built the Beitbridge-Bulawayo railway line did a good job by building a more modern and high-quality track and related facilities. They got a healthy return from that investment.

The same applies to Group Five who rehabilitated the Plumtree-Bulawayo-Gweru-Harare-Mutare highway some 10 years ago.

More recently, the Government approved a proposal by Zwane Investments to rebuild the 120km Old Gwanda Road for US$150 million. This is a local group which did not just see a need to build a better public road but also a viable business opportunity. Just like the Beitbridge Border Post modernisation project and Bulawayo-Beitbridge railway line, Zwane Investments will recoup its investment through a build, operate and transfer arrangement.

There is much more scope for improved involvement of the local private sector in infrastructure projects.

Driving on the Bulawayo-Victoria Falls Road is a nightmare. A drive from Harare to Victoria Falls passes through Gweru and Bulawayo but a private investor can shorten that drive if they build a road to connect Harare and Victoria Falls through Gokwe and Binga.

Also, Binga is a town for the future given the district’s enormous mining and tourism potential. This suggests that the road off Cross Dete to Binga centre, barely navigable at this stage, can be attractive for private investment.

There is, indeed, much more potential apart from roads; potential waiting for the local private sector to snap up for their profit and for the public good as well.

Old Gwanda Road

A growing number of companies in South Africa are building solar and wind farms to power mines. It can be enlightening to note that Hidroelectrica de Cahora Bassa is an independent power producer selling electricity to a number of governments in Sadc. As indicated, the opportunities are limitless.

We can imagine the sort of breathing space that our fiscus will enjoy if private business put their money in infrastructure development at scale.