A BULAWAYO-based company, Umguza Caravan Limited, is negotiating with South African and local investors for a joint venture project to expand a tourism facility in Matabeleland South.
The project worth $100 000, is located in the Matopos area and will include setting up of a restaurant, camping facilities, boating and rowing among other things.
Charles Chiponda, the Umguza Caravan managing director said he was approached by local and foreign investors after he submitted the project proposal to the Zimbabwe Investment Authority (ZIA) last year.
“Local and South African investors have shown interest in the project and we are still in negotiations,” he said.
“We are, however, still open to any potential partners.”
However, Chiponda could not be drawn into disclosing the identity of the local and South African investors he was engaging saying it was still too early to do so.
The project would include the construction of 20 wooden rooms, expansion of a bar and camping and boating facilities.
It is one of 15 projects worth $90 million submitted to ZIA this year as part of efforts to court investors to partner in their implementation.
Some of the projects included the construction of lodges for tourists in Kariba for $40 million and construction of an 80-room hotel with conference facilities in Bindura at a cost of $11,06 million.
At the Great Limpopo Trans-Frontier Park, a 15-year lease had been secured including planning permission and preliminary environmental approval for the construction of tourist accommodation for $320 000.
Most of the projects have not been implemented as they are struggling to get investors.
According to figures released by ZIA last week, in the first eight months to August this year, approved investment projects surged 13% to $307 million attributed to renewed investor confidence on productive sectors.
ZIA said 109 projects were approved compared to 89 that were granted permits in the same period last year.