The US$66.8 million upgrade and modernisation of the Chirundu Border Post has reached financial close, clearing the way for construction under a 20-year public-private partnership concession aimed at reducing severe delays that have made the Zimbabwe-Zambia crossing a major bottleneck on the North-South Corridor.

Government and the Chirundu Border Consortium (CBC), the private-sector concessionaire, reached financial close last week, confirming that financing arrangements for the project had been secured.

CBC will finance, develop and operate the upgraded border post without requiring capital funding from the Government, according to the Ministry of Transport and Infrastructural Development.

Construction mobilisation is already under way, with engineering, procurement and construction contractors on site and a batch plant operational.

The project comes as Chirundu continues to experience lengthy delays for commercial traffic and travellers. A 2025 Business Environment Monitoring Survey put the average time required to cross the border at about 15 hours, with customs clearance and vehicle queues accounting for more than 80% of the total crossing time.

The modernisation is therefore expected to address not only ageing infrastructure but also operational bottlenecks that slow the movement of goods between Zimbabwe, Zambia and markets further north.

Transport and Infrastructure Development Minister Felix Mhona said financial close demonstrated the Government's approach of using private-sector partnerships to deliver major infrastructure projects without placing the entire capital burden on the fiscus.

“The modernisation of Chirundu Border Post will improve trade facilitation, strengthen regional connectivity and enhance the efficiency of the North-South Corridor.”

Chirundu is one of Zimbabwe's key gateways to Zambia and forms part of the North-South Corridor, which links the ports and commercial centres of Southern Africa with countries further north.

The project is expected to replace legacy infrastructure with modern border facilities and operational systems designed to improve the processing of passengers and freight.

Its importance extends beyond the physical border post, as delays at major crossings increase the time and cost involved in moving goods through regional supply chains.

The project structure also brings together a group of private investors and financiers with experience in infrastructure development.

SAFAGA International is the project sponsor, while Strategic Partners Group is a strategic investor. Standard Bank of South Africa acted as lead debt arranger and senior lender, with Stanbic Bank Zimbabwe also participating in the transaction.

Glynn Cohen, chairman of CBC, described financial close as the culmination of cooperation between the Government, the consortium, financiers and technical partners.

“Financial Close represents the culmination of extensive cooperation between the Government of Zimbabwe, CBC, SAFAGA International and our equity, financing and technical partners.”

Cohen is also an investor in Zimborders, the consortium behind the redevelopment of the Beitbridge Border Post, which was commissioned in 2023.

The Chirundu project consequently represents a further expansion of the concession-based model used to modernise Zimbabwe's major border infrastructure.

SPG founder and group chief executive Mzolisi Diliza said the transaction fitted the investment group's strategy of backing infrastructure projects with regional economic significance.

Standard Bank of South Africa's executive responsible for energy and infrastructure finance, George Kotsovos, said the bank's participation reflected its assessment of the project's contractual structure and projected cash flows.

The lender said the border post was a critical driver of regional integration and trade facilitation along the corridor.