28 May 2018

The Director General

Zimbabwe Parks and Wildlife Management Authority
Corner Borrowdale Road and Sandringham Drive
P.O Box CY 140
Botanical Gardens
Harare
Zimbabwe

Attention: Mr. F. U. Mangwanya

RE: PACKAGING OF THE ZIMPARKS INFRASTRUCTURE PROJECTS

Background
In line with the new dispensation and Zimbabwe Agenda for Sustainable Socio-Economic
Transformation (ZIMASSET) which seeks to address the deteriorating social and economic
infrastructure of the country since the year 2000, the Zimbabwe Parks and Wildlife
management Authority (ZIMPARKS) seeks to rehabilitate and construct new tourism facilities
across the country. ZIMPARKS is in the process of planning an Investment and Infrastructure
conference to bring together local and international investors in the Tourism Sector. The main
objective of the conference is to attract investors in Zimbabwe’s designated parks and wildlife
estate across the country. In that regard, ZIMPARKS sought assistance from the Infrastructure
Development Bank of Zimbabwe (“IDBZ”, “the Bank”) to package the different projects for
investors through preparation of a comprehensive Project Information Memorandum (PIM).
Proposed Assignment
ZIMPARKS is seeking assistance from the IDBZ to prepare and package its projects for
investors.
Review of submitted documents
The Bank received documents prepared by ZIMPARKS for the Infrastructure and Investment
Conference. The documents were reviewed, in the current state, there are information gaps that
were noted which affects the potential investors investment decisions.
After review of the documents the following were the key findings:
Feasibility Study – A feasibility study was not done to support the business case.
Regulatory Approvals – There is no supporting regulatory and ministerial approval
documentation in place.
Project Information Memorandum - There is need to develop and properly package the
individual projects
Information Requirements
To kick start the process, ZIMPARKS must avail the following information to the Bank:
Parks and Wildlife local Masterplans. This will allow us to establish whether the proposed
investments are within designated areas and coverage of respective Masterplans for target sites.
Strategic development plan-To see how the proposed investments will augur well with
ZIMPARKS’ strategic vision around target conservancies area
Any Agreements (MOAs, MOUs) with other development agencies or investors. This
allows us to ascertain whether the areas that we are focusing on are not already under other
existing plans which may create possible conflicting or parallel programmes and/or legal
issues.
Current Information for the prioritised projects (any designs done on the proposed sites)
• Technical Information (Topographical survey, Subdivision layout, Developmental
permit, Engineering designs, BOQs & Cadastral/ Title survey)
• Market Information
• Social and Environmental feasibility.
• Historical financial information
The information is critical in coming up with a project priority list and in identifying quick
wins where the Bank can devote project preparation and funding raising exercises to promote
these projects to successful implementation by the Authority. The projects priority list will be
based on feasibility and confirmed viability or bankability of the selected projects.
Proposed Way forward
There is need for the Projects to be properly packaged to bankability by following the sequence
of phases through which a project should evolve based on best practice. A project is considered
bankable if it is packaged in a way that addresses the typical concerns of lenders/investors who
should finance it.
Following a well-structured preparation and development framework is critical as it improves
the overall efficient and successful development and implementation of projects. In any case,
this is what the global or international investors are accustomed to.
As we work on packing the projects for possible funding raising, the following steps should be
taken:
• Project Identification (Pre-investment/feasibility Study)
• Project Preparation (Feasibility Study). This will include land valuation. The valuation of
project sites will be conducted as per Procurement and Regulatory Authority of
Zimbabwe(PRAZ) guidelines. The valuation will inform the Authority’s equity
contributions in the proposed projects.
• Project Packaging
• Procurement and Financing
• Implementation
We look forward to working with ZIMPARKS to enhance the competitiveness of Zimbabwe’s
designated wildlife tourist destinations and visitor experience within the international and
regional market.

Yours sincerely,

………………………………..
T. Zondo Sakala
Chief Executive Officer

cc: Hon. O.C.Z. Muchinguri - Minister, of Environment, Water and Climate

D. Matete - Director, Infrastructure Projects, (IDBZ)