Build­ing con­trac­tors hail $50m loan fa­cil­ity

The Herald (Zimbabwe) - - National News - Pa­trick Chi­tumba Mid­lands Bu­reau Chief

THE Zim­babwe Build­ing Con­trac­tors As­so­ci­a­tion (ZBCA) has com­mended Gov­ern­ment for the $50 mil­lion loan fa­cil­ity in­tro­duced by the cen­tral bank to ease vi­a­bil­ity con­straints threat­en­ing the com­ple­tion of projects.

The con­struc­tion sec­tor has not been spared from fi­nan­cial chal­lenges that have seen a low up­take of projects and fail­ure to com­plete sev­eral in­fras­truc­ture fa­cil­i­ties across the coun­try. In an in­ter­view on the side­lines of the ZBCA Mid­lands re­gional busi­ness din­ner held in Gweru on Mon­day, ZBCA pres­i­dent En­gi­neer Ram­son Nher­era said through the fa­cil­ity, the as­so­ci­a­tion has been given an op­por­tu­nity to re­tool and buy new plant.

“We are grate­ful to the Gov­ern­ment and the cen­tral bank for the $50 mil­lion loan fa­cil­ity which we are go­ing to tap into for re­tool­ing pur­poses,” he said.

“As you are aware, the plant in the coun­try is quite old with some hav­ing a plant that is in ex­cess of 20 years.

“Now with this fa­cil­ity we have been given an op­por­tu­nity to re­tool, to buy new plant. The banks are still work­ing on the lend­ing rates for the fa­cil­ity.

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