IPEC

@ZimTreasury, @ZimGvt_NDS1, @ChinamasaPA, @OldMutualZW, @ZimnatOfficial, @MIPF, @IPECZW, @HeraldZimbabwe, @ChronicleZim, @CityofBulawayo, @PZvobgo Six years later, despite COVID-19, some technical challenges &, at times, difficult macro-economic environment, the Project has been successfully delivered as follows: Phase 1 First Block (B3) was handed over on the 24/07/2023 and first student moved in on the 01/08/2023. By end of August 2023, 185 students were in residence (80 Girls and 105 boys). (End of defects 30/07/2024). Phase 2 Block 2 was handed over in December 2023, and occupation commenced in February 2024 at the opening of the Semester. This was occupied by girls who had reached 145 at that time. (End of defects November 2024) Phase 3 Block 1 was completed and handed over on the 23/04/2024 and its ready for occupation. On-boarding of students is being done in a phased approach to ensure that the reticulation system is not overloaded at the first time, this has helped in managing and assessing water requirements and amount of refuse generated at the Complex. A total of 1,032 beds in 516 Rooms will be available when fully occupied. 60% are reserved for Girls. Defects and Liability Period Since the project has been handed over in a phased approach, last date of defects is the 23/04/2024. The defects/maintenance period will end on the 22/03/2024, that gives the Bank & its Partners (Old Mutual, ZIMNAT & Motor Industry Pension Fund) under ZimCampus Ltd, the opportunity to check and make sure that all defects and remedial works are attended to. Total Number of Students to date The two blocks presently occupied have a total of 490 students, which is slightly below 50%. Of the 33 Commercial Units, there are 2 shops fully operational (Food and Salon) while others are still setting up. The Laundromat & a Restaurant will be operational from this weekend. BSAC is designed as one-stop Facility for the Students. Outstanding Works There are no major outstanding works to complete. We are currently attending to minor snags as & when identified. Also await commissioning of elevators and additional fire reticulation requested by BCC. The rest of the works are tenant fit-outs which are outside the main Contract with Hualong. Appreciation The Bank is deeply endeared to Old Mutual, Zimnat & the Motor Industry Pension Fund who responded positively to our call for Private Sector Partners to co-finance this project, the first under our USSAP (University Students & Staff Accommodation Programme) which is to be rolled out across the country. Next in line are Lupane & Kwe Kwe (on land bought by the Bank); Catholic University, Bindura & Chinhoyi. The Bank is also actively looking for land/partners in Masvingo, Mutare, Gweru, Gwanda, Harare & Zvishavane. In addition to the above, the Bank is also deeply indebted to our Shareholders (@ZimTreasury, @ReseveBankZW), IPEC & former Minister of Finance, Hon. Chinamasa, for believing in the Programme. On the eve of the Groundbreaking Ceremony, Hon. Chinamasa received word that the Ceremony had been cancelled! After quickly checking with Bank Management, he made the trip to Bulawayo. The rest is history.