TTI gets seal of approval from Zida Mr Lizwe Mabuza

Sikhumbuzo Moyo, [email protected]

THE Zimbabwe Investment and Development Agency (Zida) has expressed its satisfaction with the operations of the Bulawayo City Council(BCC)’s traffic management company, Tendy Three Investments, giving it a 60 percent mark.

TTI was given the tender in February last year as the city sought to decongest the city centre and reduce traffic hustles while also providing security for motorists, some of whom have fallen prey to thieves and lost valuables.

Zida recently wrote to the Bulawayo town clerk, Mr Christopher Dube following a public-private partnership (PPP) committee meeting to review the project informing him of its findings.

Referenced, ‘PPP committee resolution on the progress and performance of the PPP project between Bulawayo City Council and Tendy Three Investments for the design, and installation management of a parking management system,’ Zida said the progress of the project was impressive.

“We write to advise that the Public Private Partnership committee held its 10th meeting on 24 January 2024 to discuss the progress and performance of the PPP project between Bulawayo City Council and Tendy Three Investments for the design, installation, and management of a parking management system.,” read part of the letter.

“The PPP Committee finds the project progress to be good with a performance score of 60 percent.”

TTI chairman and managing director Mr Lizwe Mabuza said they were delighted by the seal of approval from Zida.

He said despite teething problems, the project has managed to meet its major objectives such as generating revenue for the city, reducing crime rates, and also creating job opportunities for local youths.

“The seal of approval excites us as TTI. It’s a positive development and we will continue to even do better. We have increased revenue coffers for the city and as of the end of March, TTI has raised over US$1,5 million for the city,” said Mr Mabuza.

“We have managed to raise over R600 000, the crime rate has declined and police can verify that.”

Mr Mabuza said his company has also managed to reduce unemployment statistics by employing over 350 Bulawayo youths.

Zida assists local and foreign investors to conceptualise, start and grow their investments in the country by providing information, site visits, and administrative support throughout their investment lifecycle.

It exists to promote, plan and implement investment promotion strategies, and facilitate entry and implementation of investor plans. It also establishes and regulates Special Economic Zones (SEZ), promotes, reviews and recommends PPPs, including providing aftercare and monitoring to investors as well as promoting investment across the country.

It was established under the Zida Act (Chapter 14:38).

The Zida (General Investments) Regulations, S.I. 227 of 2023 provide for the licensing procedure for general investment licenses. The regulations go a step further to provide for both investor licensing and registration which are two separate processes.

Investor registration is available to all existing investment projects that are established without the Zida investment licence, and this applies to investors who are not in an SEZ or a public-private partnership.



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