Zimbabwe is to build new hospitals with US$193 million in funding from Absa and Standard Bank of South Africa. The funding will be used to build five 80-bed District Hospitals and thirty 20-bed clinics. The balance of the project will now be funded by the ECA-backed structured finance package.
The hospitals will be built in accordance with a 2019 agreement between Zimbabwe and UK infrastructure company NMS. NMS has already built clinics in Stoneridge in Harare and Cowdray Park in Bulawayo. The initial phases of the project, which also include four other hospitals, have been funded by the Zimbabwe government in cash for US$25 million.
The funding from Absa and Standard Bank will allow the project to continue and expand. The hospitals will provide much-needed healthcare to the people of Zimbabwe.
The Zimbabwean government is committed to this project and to providing the funds for it. Andrew Bvumbe, Head of the Aid and Debt Management Office in the Ministry of Finance, said: “This financing package is highly significant for Zimbabwe and the underlying ‘Built to Care’ rural healthcare project is a key priority for our nation. We are committed to it and to providing the funds for it.”
UK’s GKB Ventures and Sullivan & Worcester are advisors on the project. NMSI’s other projects in Africa include a US$300 million contract to build hospitals in Zambia, and projects worth US$175 million in Ghana, and €326 million in Ivory Coast. The company uses prefabricated steel frame structures in its designs, helping cut down on costs.
Zimbabwe’s healthcare facilities have collapsed over recent years, as a result of low investment in public health facilities and a severe skills flight. The new hospitals will help to improve the quality of healthcare in Zimbabwe. The project is expected to create thousands of jobs and boost the Zimbabwean economy. It is also expected to improve the health of the people of Zimbabwe and reduce the burden on the healthcare system.
The project is a significant step in the rebuilding of Zimbabwe’s healthcare system. It is also a sign of the growing cooperation between Zimbabwe and the international community.