Zimbabwe has taken another major step in its tourism development agenda with the signing of a US$66.9 million Commercial Joint Venture Agreement to develop critical infrastructure at the Masuwe Special Economic Zone in Victoria Falls, paving the way for large-scale tourism and hospitality investments.
According to a post on ‘X’, the agreement, signed between Mosi Oa Tunya Development Company (Private) Limited, a development company under the Ministry of Tourism and Hospitality Industry, and Victoria Seven Investments (Private) Limited under the J.R. Goddard Consortium, follows Cabinet’s approval of the Public-Private Partnership (PPP) in April 2026.
The project will focus on developing bulk infrastructure across Lot 1 of the 271-hectare Jafuta Estate within the Masuwe Special Economic Zone. Planned works include the installation of water and sewer reticulation systems, electricity distribution and telecommunications infrastructure, providing the foundation for a world-class tourism destination. Once completed, the development is expected to unlock significant private investment in hotels, villas, chalets, lodges, holiday homes, a golf estate, commercial and financial precincts, medical facilities, a Tourism Academy and the under-construction International Multi-purpose Cricket Stadium.
The initiative supports President Emmerson Dambudzo Mnangagwa’s Vision 2030 of transforming Zimbabwe into an upper-middle-income economy and aligns with the country’s National Development Strategy 2, which prioritises sustainable tourism investment as a driver of economic growth. Speaking on behalf of the Minister of Tourism and Hospitality Industry, Hon. Barbara Rwodzi, Deputy Minister Hon. Tongai Mafidi Mnangagwa described the agreement as a transformative investment that demonstrates the power of Public-Private Partnerships in driving infrastructure development, creating jobs and strengthening Zimbabwe’s tourism economy.
He said the complementary investments would create an integrated tourism ecosystem capable of enhancing Victoria Falls’ competitiveness as one of Africa’s leading tourism destinations while improving visitor experiences and attracting high-value investors. The Deputy Minister noted that the signing represents the fulfilment of a vision first conceived in 2012 for the development of the Masuwe Special Economic Zone. Through Mosi Oa Tunya Development Company, the government is leveraging land equity to attract private sector capital, strengthen the country’s tourism infrastructure and position Victoria Falls as a premier destination for tourism and investment.
The project is expected to boost Zimbabwe’s tourism competitiveness, stimulate inclusive economic growth, generate employment opportunities and reinforce Victoria Falls’ status as a world-class destination for leisure, business and investment.
