Staff Reporter
In line with the National Development Strategy (NDS) 1 of constructing 220 000 housing units by 2025, the Government would be floating housing bonds, as an alternative method of raising funding for housing delivery.
Speaking in a Post-Cabinet press briefing yesterday, the Minister of Information, Publicity and Broadcasting Services, Monica Mutsvangwa highlighted that the housing bonds that would be floated by the Government would be affordable to everyone.
“Government would like to inform the public that housing bonds will be floated, which are an alternative method of raising funding for housing delivery. Housing bonds are also a sustainable source of funding for affordable housing guaranteeing consistent and long-term development initiatives,” said Minister Mutsvangwa.
Minister Mutsvangwa stated that commercial banks namely; CBZ, ZB Bank, FBC, and BancABC had submitted applications for accessing funding for social housing.
“Between 2020 and 2021 commercial banks namely; CBZ, ZB Bank, FBC, and BancABC accessed a total of US$65 million through lines of credit from Shelter-Afrique. These banks have submitted fresh applications as repeat clients for accessing funding for social housing, while National Building Society (NBS); Fidelity Assurance Company, and 3 other local property developers have also submitted applications for same funding,” said the Minister.
The Minister further informed that the Government was constructing blocks of flats in Rural District Councils, to cater for civil servants that are domiciled in the eight rural provinces. She added that the construction of 400 blocks of flats of four storeys each had started in earnest with a pilot project being undertaken in Uzumba Maramba Pfungwe (UMP) in Mashonaland East Province.
Cabinet approved the National Human Settlement Policy in 2021, with the aim of constructing 220 000 housing units by 2025.To date, a total of 136 850 stands had been fully services. The servicing of 43 605 stands is work in progress. The number of completed houses is 49 150, while 42 706 houses are under construction.
