IDBZ seeks partners for Binga hotel

The Chronicle

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 Matabeleland North province, over 500km 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