Source: Indaba to explore smart city financing | The Herald
Enacy Mapakame Business Reporter
FINANCIAL advisory firm, DEAT Capital is set to host a high level conference on financing smart cities and development of rural areas, which will bring together various stakeholders from industry experts, local authorities, the banking sector and Government.
The conference will be held on June 30, 2022 at the Rainbow Towers in Harare. It comes at a time when expectations are high on the quality of service delivery against tight budgets.
At the same time municipal authorities need to increase revenues from existing sources as well as create new revenue streams.
The trend across the globe shows municipalities are struggling to increase revenues while facing structural budget shortfalls that threaten service delivery and quality.
Beyond central Government funding, the primary revenue streams for municipal authorities include service fees, fines, taxes, and assets such as buildings and properties.
The traditional funding strategies alone have proven inadequate for smart cities projects, creating scope for the conference to deliberate on the funding opportunities available with various stakeholders.
“We expect to attract a multi stakeholder of more than 250 delegates to focus on themes for smart financing and revenue generation opportunities in focus. “Zimbabwe Government under its vision 2030 is implementing a raft of initiatives under the Zimbabwe Smart Cities Concept.
“This initiative aims to mobilize innovative public-private partnerships to deploy sustainable interventions across rural and cities utilizing smart cities concept.
“A smart city initiative can put a digital overlay on any physical asset, opening the way for unprecedented opportunities, increased productivity, and new revenue streams,” said DEAT Capital.
Smart cities are seen as the way forward in addressing the current increasing urban population which is putting pressure on existing infrastructure. Experts say they become an ideal solution as the country moves towards becoming an upper middle income economy.
Smart cities are also seen as a means to minimize the adverse effects of climate change as new developments will factor in issues of energy efficiency and environmental sustainability.
A smart city is a city that uses technology to provide services and solve city problems as it improves transport efficiency, accessibility, improves social services as well as promotes sustainability.
Among the key speakers expected at the conference are National Housing and Social Amenities Minister Daniel Garwe, Minister of Information Communication Technology, Postal and Courier Services Dr Jenfan Muswere, Environment, Climate, Tourism and Hospitality Industry Minister Mangalilso Nqobizitha Ndlovu.
Other speakers include officials from the Reserve Bank of Zimbabwe (RBZ), Old Mutual Group Zimbabwe, the Zimbabwe Stock Exchange, Food and Agriculture Organization (FAO), UNAIDS Zimbabwe, International Migration Organization Zimbabwe, Shelter Afrique and Procurement Regulatory Authority of Zimbabwe.
COMMENTS