News / National
Zimbabwe faces 9,000-bed shortfall ahead of Intra-African Trade Fair
2 hrs ago |
132 Views
Zimbabwe is racing to expand hotel capacity after winning the bid in 2025 to host the headquarters of the Intra-African Trade Fair (IATF) Company, organisers of the Inter-African Trade Fair.
The IATF is run by African Export-Import Bank (Afreximbank), the African Union (AU) and the African Continental Free Trade Area (AfCFTA).
As part of the hosting agreement, the designated host city - Harare - must have at least 20,000 three-to-five-star hotel beds by the end of 2027.
However, current estimates indicate that Harare has fewer than 11,000 beds in that category, leaving a shortfall of about 9,000 beds that must be filled within the next two years.
Zimbabwe is scheduled to begin hosting a series of IATF fairs from 2028, prompting urgency within the tourism and hospitality sector to mobilise investment and upgrade infrastructure.
The Tourism Business Council of Zimbabwe (TBCZ), which represents tourism operators, says the gap presents a major business opportunity.
"This is an opportunity for tourism industry players to refurbish their assets, repurpose real estate holdings and/or enter into strategic partnerships with landlords amenable to win-win property management arrangements," TBCZ said in a statement.
Industry players are now accelerating efforts to attract hotel investment, with a focus on upgrading existing facilities and converting suitable properties into hospitality establishments.
TBCZ said it is engaging financial institutions to develop "tourism industry-focused financial products for refurbishments, retooling and re-purposing of tourism assets."
Analysts say meeting the accommodation requirement will not only ensure compliance with IATF hosting conditions but could also leave a lasting legacy for Zimbabwe's tourism sector by improving standards and increasing capacity to host major continental events.
The IATF is one of Africa's largest trade and investment platforms, bringing together governments, businesses and investors from across the continent, and is seen as a key instrument in advancing intra-African trade under the AfCFTA framework.
The IATF is run by African Export-Import Bank (Afreximbank), the African Union (AU) and the African Continental Free Trade Area (AfCFTA).
As part of the hosting agreement, the designated host city - Harare - must have at least 20,000 three-to-five-star hotel beds by the end of 2027.
However, current estimates indicate that Harare has fewer than 11,000 beds in that category, leaving a shortfall of about 9,000 beds that must be filled within the next two years.
Zimbabwe is scheduled to begin hosting a series of IATF fairs from 2028, prompting urgency within the tourism and hospitality sector to mobilise investment and upgrade infrastructure.
The Tourism Business Council of Zimbabwe (TBCZ), which represents tourism operators, says the gap presents a major business opportunity.
"This is an opportunity for tourism industry players to refurbish their assets, repurpose real estate holdings and/or enter into strategic partnerships with landlords amenable to win-win property management arrangements," TBCZ said in a statement.
Industry players are now accelerating efforts to attract hotel investment, with a focus on upgrading existing facilities and converting suitable properties into hospitality establishments.
TBCZ said it is engaging financial institutions to develop "tourism industry-focused financial products for refurbishments, retooling and re-purposing of tourism assets."
Analysts say meeting the accommodation requirement will not only ensure compliance with IATF hosting conditions but could also leave a lasting legacy for Zimbabwe's tourism sector by improving standards and increasing capacity to host major continental events.
The IATF is one of Africa's largest trade and investment platforms, bringing together governments, businesses and investors from across the continent, and is seen as a key instrument in advancing intra-African trade under the AfCFTA framework.
Source - online
Join the discussion
Loading comments…
