Zimbabwe hotels need millions for IATF 2029

Zimbabwe's successful bid to permanently host the Intra-African Trade Fair (IATF) from 2029 has been hailed as a major diplomatic and economic achievement, but industry leaders warn that the country's hospitality sector remains under-capitalised and may struggle to meet the demands of the continental event without urgent investment.

Hotel operators say they are facing high refurbishment costs, limited access to long-term financing and a shortage of new hotel developments, exposing significant gaps in accommodation capacity ahead of IATF 2029.

Although tourism investment rose 438% to US$67.8 million in the first quarter, largely due to the regularisation of tourism operators, the sector continues to face a substantial funding deficit. Industry executives estimate that existing hotels require between US$8 million and US$30 million each simply to refurbish their facilities.

Zimbabwe attracted US$194 million in tourism investment in 2025, generated a record US$1.3 billion in tourism receipts and welcomed 1.78 million international visitors. However, Hospitality Association of Zimbabwe (HAZ) president Emmah Kativu said these gains remain insufficient to prepare the country's accommodation infrastructure for permanent hosting of the IATF.

Kativu called on the Ministry of Tourism to introduce policy and fiscal measures to stimulate investment, including fast-tracked construction approvals, streamlined licensing procedures, duty rebates on imported capital equipment and tax incentives for hotel refurbishment.

She said institutional investors continue to view hospitality as a viable long-term investment but stressed that operators must present credible, bankable projects to attract funding.

"IATF preparation must begin now, and the window for financing, refurbishment and delivery is narrowing with each passing day," Kativu said.

She warned that Zimbabwe cannot afford a repeat of the delays experienced ahead of the 2024 SADC Summit and Industrialisation Week, when the government-funded Mt Hampden Presidential Villas were not completed on schedule despite significant public investment.

The hospitality sector has proposed several initiatives to improve investment readiness, including establishing a project preparation support desk for hotel operators, developing a hospitality bankability toolkit and creating a structured engagement platform between HAZ and the Bankers Association of Zimbabwe (BAZ).

Kativu said financing must be secured between 2026 and 2027 to ensure refurbishment and infrastructure projects are completed by 2028, allowing sufficient time to prepare for IATF 2029.

BAZ president Solomon Nyanhongo said banks are ready to support the sector, provided investors present well-structured and bankable projects.

Tourism and Hospitality Industry Deputy Minister Tongai Mnangagwa said improved coordination between financiers, contractors and developers would reduce project delays and ensure funds are used efficiently.

According to the 2026 Hotel Chain Development Pipelines in Africa report, Zimbabwe currently has only three branded hotel projects comprising 432 rooms under development, underlining the scale of investment still required to support the country's ambitions as the permanent host of Africa's premier trade fair.