Harare City Council is seeking permission to borrow $100 million through municipal bonds to finance various service delivery initiatives, which include housing schemes, clinics and a new sewer treatment works.
The local authority intends to make the application in terms of Section 290 (3) of the Urban Councils Act (Cap.29:15). The notice reads:
Notice is hereby given in terms of Section 290 (3) of the Urban Councils Act (Cap.29:15), council resolved to borrow a sum not exceeding $100 million by way of Municipal Bonds for purposes specified hereunder.
The allocation of the money is as follows:
- $30 million to upgrade council houses in Geneva and Zororo (Highfield), Joburg (Mbare) and Tafara.
- $25 million for the construction of Lyndurst Sewer Treatment Works.
- $15 million to replace water pipes
- $10 million to upgrade sewer lines.
- $5 million for a City Centre Maternity Clinic, and a similar amount will be reserved for city clinics.
- Gazaland Home Industry, construction of Hatcliffe farmers market and Kuwadzana Home Industry will take $600 000, $700 000 and 900 000, respectively.
- $800 000 and $2 million for the construction of Mufakose Home Industry and Mbudzi Roundabout Flea Market