Pension funds pour over ZWL$1.2 billion into Masvingo projects as Minister urges more investments
Staff Writer
Pension funds have injected more than ZWL$1.2 billion into infrastructure and social development projects across Masvingo Province over the past three years, in a wave of investments that has boosted housing delivery, healthcare, and education.
The figures were revealed by the Minister of State for Provincial Affairs and Devolution for Masvingo Province, Ezra Chadzamira, who said the investments had created jobs, improved public services, and stimulated economic activity in line with the Second Republic’s development vision.
“Over the past three years, pension funds have invested over ZWL$1.2 billion in infrastructure and social development projects across the Province. These include the construction of low-cost housing units in Chiredzi and Gutu, the refurbishment of clinics in Zaka and Bikita, and the development of commercial properties in Masvingo Urban,” said Chadzamira.
“These investments have not only improved access to shelter and healthcare but have also created jobs, supported SMEs, and enhanced the quality of life for thousands of residents.”
He made the remarks while addressing the Zimbabwe Association of Pension Funds Principal Officers and Chairman Convention held in Masvingo on today.
Chadzamira said pension funds were now central to Zimbabwe’s development agenda, describing them as active architects of economic transformation.
“Under His Excellency, the President of the Republic of Zimbabwe, Cde Dr. Emmerson Dambudzo Mnangagwa’s guidance, the Second Republic has created an enabling environment for pension capital to be mobilized toward strategic investments that uplift communities, stimulate growth, and secure long-term returns,” he said.
The Minister commended the sector for partnering with local authorities to upgrade school infrastructure — including the installation of solar power systems and water tanks in rural schools — in line with President Mnangagwa’s vision of “Leaving No One and No Place Behind.”
Pension funds have also emerged as key players in the energy sector. The Public Service Pension Fund (PSPF)holds a stake in the Great Zimbabwe Hydro Power Station, now contributing 5MW to the national grid, and is a key investor in the Tugwi-Mukosi Hydro Power Station, expected to add 15MW once completed.
Chadzamira said Masvingo’s strong economic potential presented new frontiers for pension fund participation in **tourism, housing, renewable energy, and agro-industrial infrastructure.
He noted that tourist arrivals in the province — home to the Great Zimbabwe Monument, Lake Mutirikwi, and Gonarezhou National Park — were projected to rise by 8.5% annually, yet the region required at least 1,500 new hotel rooms by 2027.
Urbanization was also accelerating, with a housing backlog exceeding 11,000 units across Masvingo Urban, Chiredzi, and growth points. Pension funds, he said, could unlock value by investing in mixed-use residential developments offering affordable housing alongside retail and commercial spaces.
The Minister further encouraged the development of solar mini-gridsin the Lowveld, where solar irradiance levels are high. He cited apilot 5MW solar project in Chikombedzi, which currently powers over 2,000 households and 50 enterprises, as proof of concept.
In agriculture, Chadzamira said ZWL$800 million was needed to modernize water reticulation systems in Chiredzi and Mwenezi to unlock full productivity in sugarcane, citrus, and livestock farming.
“These opportunities are not just theoretical — they are real, measurable, and transformative. The time to act is now,” he said.
He also called on pension funds to consider industrial park investments along the North–South and East–West corridors, leveraging Masvingo’s strategic location to support manufacturing, agro-processing, and logistics hubs.
Commending the Zimbabwe Association of Pension Funds for promoting governance and transparency, Chadzamira said the province stood ready to offer land and policy support to ensure investment
