Harare, Zimbabwe – President Emmerson Dambudzo Mnangagwa inaugurated the Madokero Creek Housing Complex and commissioned the Phase 2 Extension of the Madokero Mall on June 21, 2024. This event underscores the country’s progress in enhancing urban living and economic growth.
In his remarks, President Mnangagwa highlighted the importance of these projects as part of the 2nd Republic’s efforts to provide sustainable social protection and fortify the National Development Strategy. He reiterated the government’s commitment to achieving Vision 2030, aiming to transform Zimbabwe into a prosperous and empowered upper middle-income economy despite ongoing sanctions.
The establishment of the Public Service Pension Fund was a focal point of the President’s address. Since 2019, the Fund has successfully created wealth for contributors and reduced dependence on government treasury coffers, promoting sustainable economic progress and social protection for government workers and citizens alike.
President Mnangagwa praised the innovative architectural designs of the Madokero Creek Housing Complex and Madokero Mall, emphasizing their role in creating vibrant communities and fostering economic growth. These developments reflect the aspirations and resilience of the Zimbabwean people, building an identity that withstands adversity.
Commending the Public Service Commission, the President highlighted its significant contributions to the National Development Strategy and Vision 2030, particularly in infrastructure development. He noted the employment of over 2,000 people and the engagement of more than 60 companies during the construction phase, which bolstered local industries and enhanced the domestic supply chain.
The Public Service Pension Fund’s diverse investment portfolio includes transformative projects like the Tugwi Mukosi 15 Megawatt Mini Hydro Plant, various housing units nationwide, and commercial centres in Bulawayo and Harare. The Fund also holds significant shares in CBZ Holdings, FBC Holdings, and Tigere, with investments across multiple stock exchanges.
President Mnangagwa urged the Fund to continue expanding its portfolio into affordable housing developments and invest in factory shells and workspaces for micro, small, and medium enterprises. This forward-thinking approach is essential for building a competitive and modern Zimbabwe.
He called on local authorities to invest in ancillary infrastructure and amenities, moving towards the development of smart cities across the nation. This is crucial for ensuring that Zimbabwe’s infrastructure is not only functional but also sustainable and future-proof.
In closing, President Mnangagwa celebrated the progress, unity, hard work, and resilience that characterize Zimbabweans. He encouraged continued collaboration towards building a prosperous, modern, and industrialized Zimbabwe for the benefit of all citizens.
With these remarks, President Mnangagwa officially opened the Madokero Creek Housing Complex and commissioned the Madokero Mall Phase 2 Extension, marking a significant advancement in Zimbabwe’s urban development.
