Tungwarara lands US$4.6 billion Burkina Faso deal

Zimbabwean conglomerate Prevail Group, owned by businessman and Presidential adviser Dr Paul Tungwarara, has signed an agreement with Burkina Faso's National Bureau of Major Projects (BN-GPB) to undertake multi-billion-dollar construction and mining projects in the West African country.

The agreement covers the development of an international conference centre and hotel complex valued at US$590 million, presidential residential villas worth US$36 million, and housing projects estimated at approximately US$4 billion.

In addition to the construction projects, Prevail Group will work with SONATUR, Burkina Faso's national urban land development company, and collaborate with SONASP, the state-owned company responsible for precious substances, to help structure the country's artisanal mining sector.

The agreement was facilitated through the National Bureau of Major Projects (BN-GPB), a State institution established under the Burkina Faso Presidency in 2024 to oversee public-private partnerships and strategic national development projects.

The bureau is mandated to coordinate major socio-economic initiatives in key sectors including infrastructure, mining and rural development.

Speaking after the signing, Prevail Group chairman Dr Paul Tungwarara said the partnership reflected the company's ambition to expand its operations across Africa while promoting the philosophy that African countries should drive their own development.

"I am happy to be part of this project. Burkina Faso is copying from His Excellency President Mnangagwa's nyika inovakwa neve vayo. They prefer development to be done by Africans who have the experience; we are spreading our wings across the continent. We are determined to carry the Zimbabwean flag and bring our expertise to Burkina Faso," he said.

The agreement marks a significant expansion of Prevail Group's operations beyond Zimbabwe and strengthens its presence on the African continent.

In Zimbabwe, the company has secured several high-profile Government contracts, including the refurbishment of Parirenyatwa Group of Hospitals and the US$500 million Mt Hampden Cyber City project.

If implemented as planned, the Burkina Faso projects will rank among the largest international infrastructure and housing contracts undertaken by a Zimbabwean-owned company in recent years.