Zesa pension fund targets small towns
THE Zimbabwe Electricity Industry Pension Fund (ZEIPF) is targeting investing in infrastructure projects in small towns across the country.

ZEIPF was established in 2004 with a mandate to ensure that the pension contributions of Zesa employees were properly invested in variable investments that will support pensioners when they retire.

The fund’s administration manager, Mr Noel Jakaza, told Business Chronicle that apart from the mooted investment in Marondera, they were also exploring small towns that are coming up due to various economic activities.

“We intend to undertake a project in Marondera and we are also exploring opportunities in new towns which are expanding due to mining and other economic activities. However, in Marondera we are planning something because we have not made any investments in Mashonaland East,” he said.

“As you know the pension fund is an investment fund and we have got a national vision to make sure that we develop. We have some land banks which we have in Harare, Marondera and other places. We have projects that we intend to undertake but we cannot disclose them because we are at advanced stages of finalising them.”

ZEIPF is constructing a $14 million shopping mall in Gweru dubbed the Gweru Megawatt Shopping Complex, which is set to be opened to the public at the beginning of September.

The Gweru Megawatt Shopping Complex comprises a three storey office block, two storey shopping mall, line shops, service station and internal parking for the facility.

The fund has invested in various successful construction projects from warehouses, office blocks, and supermarkets around the country.

These include Parklands Shopping Mall in Bulawayo and Arlington Warehouse Distribution Centre in Harare located along Chitungwiza Road, which is being leased by Vital Logistics.