Augur Investments, a Ukrainian company incorporated in Estonia has promised to market Zimbabwe as a viable investment destination.
The company has entered into a joint venture with Harare City Council and Government leading to the formation of a company known as Sunshine Developments which would dualise the Joshua Mqabuko Express Road. The company will also build a hotel and upmarket residential properties around Warren Hills golf course.
On Wednesday night, HCC and Government hosted a dinner for Augur officials at a local hotel.
Augur Investments representative Mr Alexander Shermet described Zimbabwe as a good investment destination because of the friendly people, good climate and an enabling political environment.
“Our company wants to direct funding to Africa in general and to Zimbabwe in particular. There is a lot of capital in the world looking for a home and that home is Africa. I will personally urge the world to invest in Zimbabwe and commit their capital here,” he said.
Work on the dualisation of the Joshua Mqabuko Express Road and the hotel at Warren Hills Golf Course is expected to start soon with 2010 marked as the completion date.
HCC has agreed to give pieces of land to Augur Investments in exchange for the construction of the road, houses and a hotel with Augur Investments expected to sell some of the properties to recoup costs.
He promised that his company would bring the best road engineers and construction personnel as part of the company’s marketing strategy for its work.
“Any airport road is indicative of the city and Government,” he said.
Mr Shermet said while his company would benefit from the land swap deal — it is Zimbabwe that would benefit more from the deal because all the properties would remain in the country. The Minister of Local Government, Public Works and Urban Development Cde Ignatius Chombo expressed Government’s appreciation of the co-operation with Augur Investments.
He also commended the city commission for being innovative in agreeing to swap land for development.
Cde Chombo said Augur Investments officials met with President Mugabe earlier in the week to apprise him of the project. He said Cde Mugabe welcomed the development and urged the parties to expeditiously start work. Cde Chombo said the Ministry of Transport and Communications, which is the custodian of all national roads, would superintend the construction work.
“The Joshua Mqabuko Road gives visitors a feel of Zimbabwe. It should be the best road ever. Zimbabwe is quite beautiful. A beautiful road will enhance that beauty,” he said.
The Minister of Transport and Communications Cde Chris Mushohwe, the Minister of Agricultural Mechanisation, Engineering and Irrigation Dr Joseph Made, Harare Commission chairperson and senior Local Government and council officials attended the dinner.