Beitbridge town warns investors
THE Beitbridge Municipality has raised concern over the slow commercial development in the border town, warning investors whose stands have remained undeveloped for the past seven years that they risk having them repossessed.
In a public notice dated August 20, Beitbridge town clerk Loud Ramakgapola said: “We have noted with concern that there has been slow or no commercial development at all within the central business district.
“Commercial stands offered in the central business district more than seven years ago are still undeveloped or incomplete, save for a few under construction.”
The town clerk further noted that all investors who were given commercial stands must start developing them as failure to do so within the stipulated time would attract non-development penalties.
“We urge all investors who were given commercial stands in the CBD to start developing. Failure to develop will now attract a non-development (fee) penalty or force council to reallocate the stands to more serious developers,” he said.
As a result, the investors were ordered to submit their plans of action by September 30, 2020.