Local contractors to get mega projects

HARARE - The Zimbabwean government is mulling to prioritise local construction firms on mega projects as a way of preserving scarce foreign currency.

The southern African country is facing an acute shortage of foreign currency, which has affected importation of critical products such as fuel and medical drugs.

“As part of the economic development plan, engagement of external contractors should be done in cases where there is no local capacity and expertise, that way reducing foreign currency exposure,” said George Guvamatanga, the permanent secretary in the Finance ministry.

He said in the event of an external contractor being engaged, the contract should be scrutinised to ensure value for money while also considering the participation of locals as sub-contractors.

The former Barclays boss further noted that the engagement of local contractors enhances economic activity, boosts job creation and propels the country’s goal of becoming an upper middle-class economy by 2030. — Business Live

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