HOSPITALITY AND BANKING SECTORS CHART PATH TOWARDS IATF 2029

The Hospitality Association of Zimbabwe (HAZ) has convened a landmark gathering of bankers, regulators and hospitality operators to chart how the country can strategically position itself to host the prestigious Intra-African Trade Fair (IATF) in 2029, in what has been described as the highly anticipated Meet the Bankers Conference.

The conference brought together industry leaders under one roof to engage in thought-provoking discussion on the infrastructure development, tourism capacity and hospitality leadership required to establish Zimbabwe as a prime destination for major international events. Delegates also explored the importance of public-private partnerships in driving the scale of economic development needed ahead of 2029.

The urgency behind the discussions is considerable. Zimbabwe secured the right to host the headquarters of the Intra-African Trade Fair Company in Harare, having beaten bids from Burkina Faso, Cameroon, Malawi, Zambia and South Africa, positioning the country to host regular trade exhibitions, conferences and business gatherings tied to one of the continent’s largest trade promotion platforms. The country is also preparing to host the Cricket World Cup in 2027, compounding the pressure on existing accommodation capacity in the years ahead.

That pressure is significant. According to recent industry figures, hospitality operators require financing of up to thirty million United States dollars each to refurbish existing properties to acceptable standards, while the country’s pipeline of new branded hotel developments remains limited, with only three chain hotel projects, comprising some 432 rooms, currently planned nationwide. Of those, roughly 300 rooms are under construction, with the remainder still at the planning stage. Separately, the Zimbabwe Investment and Development Agency has been courting investors around a proposed ten-thousand-room hotel initiative intended to signal a shift towards large-scale, integrated tourism infrastructure.

Speaking at the conference, industry voices emphasised that readiness for IATF 2029 extends well beyond physical infrastructure. True preparedness, delegates were told, depends on strong governance, efficient systems, accountable project management and investment in people and service excellence, with warnings that without sound systems and processes, capital can leak and projects can stall. Financial institutions were urged to innovate and structure lending products aligned with the specific realities of the tourism sector, while government was called upon to maintain policy consistency and strengthen investment facilitation.

With just over three years remaining before Zimbabwe welcomes delegates and investors from across the continent, the Meet the Bankers Conference has underscored that success will hinge on close collaboration between financiers, hospitality operators and policymakers alike.