News / Local
Bulawayo, TTI rake in over US$600,000 in parking, clamping fees
02 Oct 2024 at 07:51hrs | Views
Bulawayo City Council (BCC) has reported a successful partnership with parking management company Tendy Three Investments (TTI), generating over US$600,000 in revenue from parking fees and vehicle clamping in the eight months leading up to the end of August 2024.
This impressive figure was disclosed by BCC's finance and development committee chairperson, Mpumelelo Moyo, during a presentation on the 2025 budget and a review of the 2024 budget last Friday. Moyo explained that the partnership, which involves managing the city's 7,200 parking bays, has proved financially beneficial.
"In 2024, council received an income amounting to US$612,517, R281,466, 4,695 pula, and ZiG1,673,421 as of August 31, 2024," Moyo stated. "These funds have been allocated towards improving parking areas, with over 5,200 parking bays having been marked to date."
Moyo emphasized that the council is guided by the Urban Councils Act [Chapter 29:15], specifically sections 189 to 190, concerning the usage of parking fees.
In addition to the financial aspects, the deputy mayor highlighted the governance and administration programs under which six sub-programs operate, including council, town clerk, human resources and administration, finance, audit, and technical support services.
"Council was able to rehabilitate the vehicle repair workshop to enhance responsiveness to vehicle repairs and acquire information communication technology equipment under this program," Moyo added.
BCC entered into a partnership with TTI in 2022 to manage its parking system through a US$2 million public-private partnership (PPP) tender. This arrangement is based on a build, operate, and transfer agreement aimed at generating revenue and providing employment opportunities for residents.
TTI commenced the collection of parking fees as part of the first phase of the PPP arrangement on February 18, 2022, marking a significant step towards improving the city's parking management and revenue generation
This impressive figure was disclosed by BCC's finance and development committee chairperson, Mpumelelo Moyo, during a presentation on the 2025 budget and a review of the 2024 budget last Friday. Moyo explained that the partnership, which involves managing the city's 7,200 parking bays, has proved financially beneficial.
"In 2024, council received an income amounting to US$612,517, R281,466, 4,695 pula, and ZiG1,673,421 as of August 31, 2024," Moyo stated. "These funds have been allocated towards improving parking areas, with over 5,200 parking bays having been marked to date."
Moyo emphasized that the council is guided by the Urban Councils Act [Chapter 29:15], specifically sections 189 to 190, concerning the usage of parking fees.
"Council was able to rehabilitate the vehicle repair workshop to enhance responsiveness to vehicle repairs and acquire information communication technology equipment under this program," Moyo added.
BCC entered into a partnership with TTI in 2022 to manage its parking system through a US$2 million public-private partnership (PPP) tender. This arrangement is based on a build, operate, and transfer agreement aimed at generating revenue and providing employment opportunities for residents.
TTI commenced the collection of parking fees as part of the first phase of the PPP arrangement on February 18, 2022, marking a significant step towards improving the city's parking management and revenue generation
Source - Southern Eye
