In a joint statement, the Ministry of Transport and Infrastructural Development and CBC said that all necessary financing arrangements for the implementation of the project have been secured.
The Ministry described it as a defining milestone for a nationally significant and transformative infrastructure project that will modernise Chirundu.
Under the agreed Public-Private Partnership framework, CBC will mobilise the capital required to deliver and operate the upgraded border post, providing modern public infrastructure without requiring capital funding from the Government of Zimbabwe.
Construction mobilisation is already well advanced, the partners said. EPC contractors are fully mobilised, the batch plant is operational, and various contractors are already on site.
Transport and Infrastructural Development Minister Felix Mhona said the development demonstrated the Government’s commitment to high-impact infrastructure through private-sector partnerships.
“The achievement of Financial Close demonstrates the Government’s commitment to implementing high-impact national infrastructure projects through effective partnerships with the private sector,” said Mhona.
“The modernisation of Chirundu Border Post will improve trade facilitation, strengthen regional connectivity and enhance the efficiency of the North-South Corridor.
“We now look forward to the commencement of construction and the successful delivery of this important national project.”
CBC and its founding sponsor SAFAGA International said Financial Close was the culmination of extensive cooperation between Government, CBC, SAFAGA and its equity, financing and technical partners.
“Financial Close represents the culmination of extensive cooperation between the Government of Zimbabwe, CBC, SAFAGA International and our equity, financing and technical partners,” said Glynn Cohen, Chairman of CBC and SAFAGA.
“We are grateful for the confidence placed in this Project and for the support received from the Government and all participating institutions.
“SAFAGA is proud to have founded and sponsored this Project, and we look forward to delivering a modern and efficient border post that will serve Zimbabwe and the wider region for generations.”
Strategic investor Strategic Partners Group (SPG) described it as a landmark transaction.
“Achieving financial close on the Chirundu border post PPP is a landmark transaction for SPG, and we are excited to partner on this milestone concession,” said Mzollisi Diliza, Founder and Group CEO.
“It aligns perfectly with our strategic mandate to invest in world-class infrastructure across Southern Africa.
“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.”
Chirundu serves as a critical gateway connecting Zimbabwe with Zambia and the broader regional market.