🇿🇼ZimbabweSouthern Africa
Harare mayor outlines plans for bonds and reforms to end 'hand-to-mouth' financing
via NewsDay Zimbabwe5 min read
Harare Mayor Jacob Mafume announced the city is developing strategies to transition from its current 'hand-to-mouth' financial operations to a more sustainable model. The capital faces significant challenges, including weak management, poor service delivery, and inadequate urban planning, which have hindered infrastructure development. Speaking at a Confederation of Zimbabwe Industries and City of Harare business breakfast, Mafume stated that the local authority is working on new models to enhance efficiency amidst an economic slowdown. He emphasized the commitment to clearing audit backlogs and achieving full compliance by year-end to unlock better financing options, such as infrastructure and municipal bonds. The mayor highlighted the need for improved procurement efficiency to ensure transparent and reliable systems. Mafume stressed the urgency of addressing fiscal challenges to meet the 2026 budget targets for sustainable service delivery and infrastructure renewal. Wellington Dangarembizi, president of the CZI Mashonaland Chamber, supported the need to overhaul Harare's funding model, advocating for blended financing, public-private partnerships, and restoring municipal trading spaces. He also called for institutionalized communication channels between the City of Harare and the business community for effective collaboration.
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This summary was AI-generated from a story originally published by NewsDay Zimbabwe.
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