BCC approves request for borrowing powers

THE Bulawayo City Council (BCC) has approved a request by its finance and development committee to seek $174 million borrowing powers from the Local Government ministry to undertake various capital projects.

The council has also engaged a capital advisory firm to assist it with the floating of municipal bonds, a debt
security issued to finance public projects such as schools, roads, water and sewer infrastructure, among others.

Council received no objections to its bid to seek the borrowing powers after flighting its advertisement, a move seen as giving permission to the finance and development committee to seek the required monies for the capital projects.

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