By Desire Tshuma
HARARE — Zimbabwe has reached a major milestone in its drive to modernise its ports of entry, with the Government and its private sector partner announcing Financial Close for the US$ multi-million Chirundu Border Post Upgrade and Modernisation Project.
The Ministry of Transport and Infrastructural Development and the Chirundu Border Consortium (CBC) confirmed the development in a joint press statement issued on September 21, 2026.
Financial Close means all funding for the project has now been secured, clearing the way for full-scale construction to begin on one of Zimbabwe’s busiest and most strategically important border posts.
According to the Ministry, the project will be delivered without requiring direct capital funding from Government, under a Public-Private Partnership model.
Construction mobilisation is already advanced. The Engineering, Procurement and Construction contractors are fully mobilised, the batch plant is operational and various contractors are already on site.
Transport and Infrastructural Development Minister Hon Felix T. Mhona said the milestone reflects the Second Republic’s commitment to high-impact infrastructure.
“The achievement of Financial Close for the Chirundu Border Post Upgrade and Modernisation Project stands as a powerful testament to the vision and leadership of His Excellency President Dr. Emmerson Dambudzo Mnangagwa,” Mhona said.
“This milestone reflects the President’s unwavering commitment to positioning Zimbabwe as a premier regional transport and logistics hub, driving industrialisation, and deepening regional integration.”
He added: “The modernisation of Chirundu Border Post will improve trade facilitation, strengthen regional connectivity and enhance the efficiency of the North-South Corridor.”
CBC Chairman Mr Glynn Cohen said the deal was the result of extensive cooperation between Government, CBC, SAFAGA International and financing partners.
“We are grateful for the confidence placed in this Project and for the support received from the Government and all participating institutions. We look forward to delivering a modern and efficient border post that will serve Zimbabwe and the wider region for generations,” he said.
Financiers have also endorsed the project. Standard Bank of South Africa, the lead debt arranger and senior lender, said Financial Close reflects confidence in the project’s fundamentals.
“We regard the project as a critical driver for regional integration and trade facilitation across the corridor,” said Mr George Kotsovos, Executive: Energy & Infrastructure Finance at Standard Bank of South Africa.
Stanbic Bank Zimbabwe Chief Executive Mr Solomon Nyanhongo described it as a significant milestone in Zimbabwe’s infrastructure journey and proof that well-structured PPPs can attract private capital into strategic national projects.
Investment Banking Head Mr Chungu Kaunda said the project will enhance trade facilitation, improve cross-border movement and support growth along the North-South Corridor.
Strategic investor Strategic Partners Group (SPG) said Chirundu fits perfectly into its regional infrastructure strategy.
“Achieving financial close on the Chirundu border post PPP is a landmark transaction for SPG. This project naturally diversifies our portfolio and reinforces SPG’s core ambition to pursue high-impact investment opportunities that drive regional trade and economic growth,” said Founder and Group CEO Mr Mzolisi Diliza.
Chirundu Border Post is a critical gateway connecting Zimbabwe with Zambia and the broader regional market. The upgrade will overhaul legacy infrastructure, introduce advanced operational systems and drastically cut transit delays for both passengers and freight.
The project builds on the successful redevelopment of Beitbridge Border Post commissioned by President Mnangagwa in August 2023, completing a vital dual-gateway upgrade along the North-South Corridor — a key artery linking Southern Africa’s industrial and commercial centres.