CBE Launches TZS 20 Billion Student Housing Project

The College of Business Education (CBE) has initiated a TZS 20.739 billion project for the construction of student dormitories at its main campus in Dar es Salaam. This project, to be implemented through a Public-Private Partnership (PPP), is expected to address 98.67% of the student housing challenges currently facing the college.

Speaking earlier today, September 14, 2024, in Dar es Salaam, CBE Principal, Prof. Edda Tandi Lwoga, stated that the Dar es Salaam campus currently accommodates a total of 12,000 students. However, the campus has only two dormitory buildings with the capacity to provide 160 beds for both male and female students, which meets just 1.33% of the total housing needs.

"When this project is completed, we expect it to reduce the current housing challenge from 1.34% to 30%. Currently, 98.67% of students are forced to seek accommodation off-campus, often at high costs, which makes it difficult for some students to afford," said Prof. Lwoga.

She added that the project aligns with the country's economic goals of enhancing collaboration between the public and private sectors, as outlined in Tanzania's PPP policy. Additionally, the project will bring various benefits to investors, including stable and predictable income, long-term business stability, and opportunities for long-term profit.

On his part, the Deputy Principal (Finance, Administration, and Planning), Prof. Emmanuel Munishi, explained that CBE chose the PPP approach after identifying several advantages, such as timely project completion. Private partners will not only contribute capital but also expertise in construction, management, and operations, ensuring high-quality accommodation for students. He called on investors to take advantage of this economic opportunity.

"Through the DBFOMT (Design-Build-Finance-Operate-Maintain-Transfer) model, private investors will manage the dormitories for a specified period, as outlined in the contract, after which ownership will be transferred back to CBE. Additionally, the dormitories will ensure sufficient student occupancy, which will enhance the project's financial efficiency for investors," said Prof. Munishi.