Nobleman Runyanga
The Zimbabwe International Trade Fair Company (ZITF)’s plans to construct a 300-room hotel and conference centre in Bulawayo are still on course, the Harare Post has learnt. This was revealed by the parastatal’s board chairperson, Ruth Ncube during a stakeholders’ meeting with business executives held at a Harare hotel today.
The company announced the project early last year but owing to the prevailing economic challenges it is yet to be implemented.
"In the long term, building a convention centre and hotel will position the City of Bulawayo as premier (meetings, incentives, conferences and exhibitions) MICE destination,” Ncube said.
The project has been partly hindered by the absence of a transaction advisor.
“Transaction advisor has been appointed and is currently helping ZITF to identify an appropriate model of implementing the project," Ncube said.
When businessman, Shingi Munyeza pointed out the need for speed in the implementation of such projects, Ncube indicated that, going forward, the project implementation would be faster following the appointment of project experts.
"The appointment of a transaction advisor is critical for technical direction. Expect a faster pace now that experts are in charge of implementation," said Ncube.
Ncube highlighted that the refurbishment and conversion of the Zimbabwe International Exhibition Centre’s Hall 2 into a conference centre was set to be completed next year.
"In the short term, Hall 2 is being refurbished into a dedicated conferencing facility. Funding has been secured and the completion target is 2020," she said. Ncube, however, disclosed neither the amount nor the source.
Commenting on the full cost of the project Ncube indicated that the company could not provide figures due to the prevailing market instability.
"The previous budget was in excess of $300 million. Market changes have made pricing difficult. We look forward to more accurate figures once the transaction advisor starts operating"
Turning to the company’s 60th anniversary celebration which is set to be held this year, Ncube invited companies for partnerships.
"We invite business people to be a part of the exciting journey to our next 60 years. There are lots of opportunities for business," said Ncube.
The construction of the ZITF hotel is set to increase Bulawayo’s total hotel room number from the current 337, which is made up of Rainbow Hotel’s 180 and Holiday Inn’s 157, to 637. This is will ease accommodation problems in the city during the Zimbabwe International Trade Fair (ZITF).
