CBZ Bank commits US$100m for Harare
CBZ Bank has pledged US$100 million to support the rehabilitation of the Harare-Chirundu Highway in Zimbabwe. This funding is part of a larger national infrastructure initiative aimed at improving trade corridors and reducing logistics costs.
Why it matters
Infrastructure investment is critical for Zimbabwe's economic recovery and regional trade connectivity within the North-South Corridor.
CBZ Bank has committed US$100 million towards the rehabilitation and upgrade of the strategic Harare-Chirundu Highway as part of efforts to accelerate infrastructure development along Zimbabwe’s key trade corridors.
The details were revealed by CBZ Holdings chief executive officer Lawrence Nyazema at an event held on Monday to share the group’s first-half financial performance.
The funding forms part of Zimbabwe’s broader US$400 million infrastructure loan facility aimed at fast-tracking major national trade corridor projects.
The full rehabilitation of the 356-kilometre Harare-Chirundu corridor is estimated to require about US$900 million.
The funding is being structured through a local financial partnership and will be ring-fenced against ZINARA toll collections, protecting general public finances.
The Harare-Chirundu corridor serves as Zimbabwe’s primary gateway to the North-South Corridor, linking trade flows between South Africa, Zimbabwe, Zambia and the Democratic Republic of Congo (DRC).
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