PRESIDENT Emmerson Mnangagwa on Friday commissioned Varsity Heights, a premier student accommodation facility in Chinhoyi, valued at US$8,8 million.
The facility, owned 80,33% by the Public Service Pension Fund, accommodates 384 students, providing decent accommodation and essential amenities, including comprehensive security, fibre-linked Wi-Fi, a gym, and student-centred facilities.
The fund partnered with First Mutual Life, First Mutual Health, Deloitte Pension Funds, First Mutual Properties, Nicoz Diamond Insurance, Acol Chemicals Pension Funds, and the Local Authorities Pension Fund to develop this project.
At the official opening, Mnangagwa stated that this achievement showcases the transformative power of innovation in public sector-driven projects.
“Given the demand for student accommodation and other requirements, my government will never tire of building a learning ecosystem that is agile, adaptable and responsive to the needs of our young talented boys and girls,” he said.
“This is critically important as we continue to emphasise a knowledge driven economy and carve on innovation, science, technology, engineering and mathematics.”
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He added: “In this regard, the student accommodation facility demonstrates our commitment to improving the welfare of our learners and their academic experience as well as life on campus.
“The modern and new look residences will go a long way in providing a conducive learning environment for our young learners while enabling convenience, academic success, excellency, discipline and responsible creation of citizens.”
The modern residences provide a conducive learning environment, enabling convenience, academic success, excellence, discipline, and responsible citizenship.
The architectural design incorporates spaces for extra-mural activities, recreation, and spiritual and emotional well-being.
Civil Service Commission Chairman Vincent Hungwe noted that Varsity Heights reflects the government's commitment to innovative ideas and methodologies, enhancing efficiency in fund management.
"The shift from the unsustainable pay-as-you-go pension scheme to a self-managed fund, supported by Treasury's ZiG70,4 million seed funding, has proven effective," he said.
Hungwe stressed the importance of timely government remittances and recognised the pension fund's role in providing social security and peace of mind for workers.