Johannesburg Stock Exchange listed Ecsponent Limited’s controlling shareholder and Brainworks Capital founder George Manyere has unveiled a $200 million investment fund targeting key infrastructure projects in Zimbabwe.
The funds will be housed under his newly formed MHMK Infratech company.
“Our vision is to be the leading private sector player in infrastructure development & financing and a partner of choice to all key stakeholders in Zimbabwe.
“This move we have made and the successful raising of $200 million in our first round of financing reflects our positive views around the ambitious infrastructure initiatives being undertaken by our Government in Zimbabwe in line with its economic blueprint, Zim-Asset,” said Mr Manyere, who is the chief executive of the company.
MHMK Infratech will be moving in to address the key infrastructure requirements of the country, inter alia: roads, airports, bridges, transport, energy, border posts and water sectors.
MHMK aims to have available $1 billion in the short to medium term for the most pressing infrastructure requirements.
“The successful capital raise in the first round, guarantees the ability of MHMK Infratech to identify and commence development of the above mentioned infrastructure projects promptly and significant progress has already been made in kick-starting its first infrastructure project in Zimbabwe.”
Mr Manyere, who also had a stint at World Bank’s International Finance Corporation, said in its approach, MHMK Infratech has taken the opportunity to structure a Zimbabwean solution to a Zimbabwean requirement, which primarily addresses the country’s vision for accelerated economic growth, as well as wealth creation through the promotion of Zimbabwe’s economic blueprint, Zim-Asset (Infrastructure & Utilities cluster).
“We also want to demonstrate how the private sector, led by indigenous Zimbabweans can partner with the Government and mobilise much needed international capital for economic development and overall to support the Ten-Point Plan for Zimbabwe’s economic growth.”
With a reputation for building businesses in Zimbabwe and steadfast acquisitions, Mr Manyere’s vision and strategy for private sector participation in infrastructure financing and development, casts light on a promising future for the economic development of the people of Zimbabwe.
Mr Manyere further said: “We strongly believe that as the private sector, we have a significant role to play in narrowing the infrastructure deficit in our country through Private Public Partnerships (PPP’s) and we believe that our firm is well positioned to play a key role in rebuilding our diverse infrastructure in Zimbabwe.”