Zimbabwe has secured a funding deal for the upgrade and mordenisation of the Chirundu Border Post with Zambia.
The project funding will be mobilised by Chirundu Border Consortium (CBC), Zimbabwe’s private sector partner in the multi-million-dollar project.
“The achievement of financial close confirms that the necessary financing arrangements for the implementation of the project have been secured,” Zimbabwe’s Transport and Infrastructural Development minister, Felix Mhona, said.
“Under the agreed framework, CBC will mobilise the capital required to deliver and operate the upgraded border post, providing modern public infrastructure without requiring capital funding from the Government of Zimbabwe,” he said.
Mhona said construction mobilisation is at an advanced stage, with the batch plant operational and various contractors already on site.
Modernization of the border post is expected to improve trade facilitation, strengthen regional connectivity and enhance the efficiency of the North-South Corridor.
SAFAGA International is leading the project, while Standard Bank of South Africa participated as the lead debt arranger and senior lender.
Chirundu Border Post serves as a critical gateway connecting Zimbabwe with Zambia and the broader regional market