Zimbabwe Seeks Millions in Funding to Upgrade Tourism Infrastructure

Funding the US$30 Million Hospitality Gap

As Zimbabwe prepares to host the IATF permanently through 2033, the hospitality industry faces an urgent need for capital. During the recent Hospitality Association of Zimbabwe (HAZ) Bankers Conference, industry leaders highlighted that the cost of refurbishing existing properties varies significantly based on scale. According to Rainbow Tourism Group’s Chief Strategy, Growth and Investment Officer, Tapiwa Mari, the financial requirements are substantial.

“For smaller operators, that gap right now is about US$8 million and for the larger operators, we’re speaking in the region of about US$30 million, and this is just to refurbish the existing properties.”

Tapiwa Mari, Rainbow Tourism Group

Beyond refurbishments, the country faces a wider development challenge. As reported by NewsDay Zimbabwe, industry estimates suggest that hotel room development costs range from US$70,000 for three-star facilities to as much as US$300,000 per room for five-star projects. With a goal to increase national accommodation capacity to 10,000 additional rooms, the current pipeline—comprising only three major hotel projects—remains insufficient to meet the demand expected by 2029.

Strategy for 2029: Beyond Brick and Mortar

The push for modernization is not limited to physical infrastructure. HAZ President Emmah Kativhu emphasized that successful hosting requires a holistic approach to service delivery and governance.

“As we upgrade infrastructure for IATF 2029, we must remember that true readiness is not just about brick and mortar. It is about strong governance, efficient systems, accountable project management, investment in people and service excellence. Without systems, capital leaks. Without processes, projects stall.”

Emmah Kativhu, President of the Hospitality Association of Zimbabwe

The government is actively courting the financial sector to create specialized lending products. Deputy Minister of Tourism and Hospitality Industry Tongai Mnangagwa stated that the industry cannot shoulder this development burden alone, calling for favourable lending models and strategic long-term development partnerships to bridge the gap.

Luxury Tourism and Global Brand Confidence

One indicator of growing confidence is the US$30 million redevelopment of the former Kingdom Hotel in Victoria Falls. zbcnews.co.zw that the property is being transformed into a Grand Hyatt, a move that local tourism stakeholders believe will signal stability to international investors. For local businesses, such as craft vendors and tour guides, the return of global brands is seen as a vital step toward restoring the high-value visitor traffic lost during the hotel’s three-year closure.

Tourism expert Clement Mukwasi noted that the investment reflects a broader trend, stating that global hotel brands are becoming more selective about where they invest, making this project a key benchmark for the country’s luxury appeal.

Targeting the Diaspora and Australian Markets

Simultaneously, the Ministry of Tourism and Hospitality Industry is executing an aggressive international outreach. Minister Barbara Rwodzi recently led a delegation to Australia to court the diaspora and local travel trade. southernafricantimes.com that this effort aims to shift the diaspora’s role from purely sending remittances to becoming long-term development partners in the tourism economy.

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• Regional Connectivity: Promoting the KAZA UniVisa to simplify travel between Zimbabwe, Zambia, and Botswana.

Despite a dip in arrivals from Australia—from 33,000 in 2024 to 27,347 in 2025—the market remains a high-priority focus due to the high per-visitor spend. Minister Rwodzi emphasized that the country is enemy to none and friends to all, signaling an open-door policy for future tourism and infrastructure investment as the nation builds toward the 2029 deadline.