The Zimbabwean government has officially signed a US$66.9 million Commercial Joint Venture Agreement aimed at developing world-class tourism infrastructure in Victoria Falls. This transformative investment is set to lay the groundwork for bulk infrastructure, including water and sewer reticulation, electricity distribution, and telecommunications.
The agreement, approved by Cabinet in April 2026, marks a significant step in leveraging land equity through the Mosi Oa Tunya Development Company to attract private sector investment. Deputy Minister of Tourism and Hospitality, Tongai Mafidi Mnangagwa, highlighted that this initiative will strengthen Zimbabwe’s tourism landscape, enhance tourist experiences, stimulate inclusive economic growth, and further establish Victoria Falls as a premier high-value tourism and investment destination.
The deal is expected to unlock substantial large-scale investments in various sectors, including hotels, villas, chalets, lodges, holiday homes, a golf estate, commercial and financial precincts, medical facilities, a Tourism Academy, and the ongoing construction of an International Multi-purpose Cricket Stadium.
Key Players Involved
- Government of Zimbabwe: Signed the US$66.9 million Commercial Joint Venture Agreement.
- Mosi Oa Tunya Development Company (Private) Limited: A development company under the Ministry of Tourism and Hospitality, leveraging land equity for private sector investment.
- Deputy Minister Tongai Mafidi Mnangagwa: Officiated at the signing ceremony, emphasizing the development’s transformative impact.
Event Timeline
- April 2026: Cabinet approved the Public-Private Partnership for the tourism infrastructure development.
- August 5, 2026: The US$66.9 million Commercial Joint Venture Agreement was officially signed.
