Uncategorized

Hotel for Binga – IDBZ seeks partnership

13 Jun, 2019 - 15:06 0 Views
Hotel for Binga – IDBZ seeks partnership

eBusiness Weekly

HARARE – The Infrastructure Development Bank  of Zimbabwe (IDBZ) is on the hunt for partners to establish a hotel in  the remote area of Binga, famed for having the country’s only natural  beach, as it seeks to drive growth of the tourism industry in the  location.

The bank, in conjunction with the Binga Rural District Council, said it is looking for either local or foreign joint venture  partners for the multi-million dollar hotel and conference centre  project, which will sit on a six-hectare piece of land, overlooking the  Zambezi River.

The hotel will be a 32-bed, accommodating at least 100 guests.

“While the IDBZ as a DFI (Development Finance Institution) is not a  tourism operator, the proposed development is an initiative by the bank  to support the tourism sector through provision of world class tourism  infrastructure and facilities through partnerships with experienced  tourism operators who can lead the operations of such infrastructure and  facilities,” the IDBZ said.

Located in Matebeleland North province, over 500 km from the capital,  Binga is not only famed for its beach, but other tourist attractions  including hot and cold springs.

Tourists visiting the area mainly stay in house boats as there is a  shortage of accommodation.

And with the area, which is located between the world famous Victoria  Falls and Kariba, set to have a border linking Zimbabwe and Zambia  housed in the area, the IDBZ said this could also be a boon for tourism  in the area.

“Binga has experienced a rise in house boats docking on its shores due  to congestion in Victoria Falls and with plans to set up a new border  post linking Zimbabwe and Zambia, it is envisaged that there will be  increased demand for hotel accommodation in tandem with the anticipated  rise in traffic,” the bank said.

The IDBZ said partners interested in the project should not only  demonstrate ability to fund the project, but should also have similar  investments elsewhere.

The partner will also be required to carry out a feasibility study,  project design and execution.

On completion of the project, the IDBZ, which will also help fund the  project, said it will not be involved in running the hotel.

“The bank, as a DFI will not be actively involved in the day to day  operations of the facilities but will cede that function to a reputable  operator who maybe the JV (joint venture) partner or some other operator  sourced by the JV,” it said. – New Ziana

Share This:

Sponsored Links

Survey


We value your opinion! Take a moment to complete our survey

This will close in 20 seconds