Road infrastructure development funding models: A comparative case study of Zimbabwe National Road Administration and South African National Roads Agency SOC Limited
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The study made a comparative assessment of the road infrastructure development funding models between ZINARA and SANRAL of South Africa. There is a lack of a properly designed road infrastructure development funding model in Zimbabwe that has seen an over reliance on one funding model that has failed to attract adequate funding as evidenced by road maintenance backlog and impassable roads. As such, the study made an attempt to identify possible funding models that can be utilised to improve road infrastructure development in Zimbabwe. The study also looked at case study funding models that are being used by SANRAL which could be adopted in Zimbabwe. In order to ascertain whether there are significant differences between the revenue turnover of ZINARA and SANRAL, a hypothesis test was carried in order to give recommendations on the most appropriate models that ZINARA can adopt. A descriptive survey research that utilised a structured questionnaire was used to lobby the opinions of research participants in government and local authorities. A stratified purposive sampling comprising of individuals in government departments and local authorities like Rural District Councils (RDCs) and Urban Councils (UCs) was used to build a representative sample from the target population. Interviews with the management and employees of the aforementioned groups were also utilised as a complimenting process to the administration of the structured questionnaire. Out of the eight investigated possible international funding models that are in use in both developed and developing countries, the study established the use of public financing, private financing, PPPs and infrastructure bonds as the most suitable models for adoption in Zimbabwe. On the other hand, national treasury, concessions through PPPs, capital market borrowings and direct foreign investments are the South African road infrastructure funding models that Zimbabwe (ZINARA) can use in order to improve its road infrastructure status. It is therefore evident that public financing, private financing, public-private partnerships and infrastructure bonds are the international funding models that can be adopted and implemented by the ZINARA. From a regional perspective, Zimbabwe should adopt national treasury, concessions through public-private partnerships, capital market borrowings and direct foreign investments as funding models for better road infrastructure. The government of Zimbabwe should therefore explore concessions to private players to fund the construction of major state highways.
Additional Citation InformationMudodo, A. (2016). Road infrastructure development funding models: A comparative case study of Zimbabwe National Road Administration and South African National Roads Agency SOC Limited (Unpublished master's thesis). University of Zimbabwe.
Public Private Partnerships
Direct foreign investments