HOUSING minister Daniel Garwe says the Urban Development Corporation (Udcorp) is in advanced discussions to access US$40 million in lines of credit from pan-African housing development financial institution, Shelter Afrique.
This comes as Shelter Afrique has signed an agreement with the Zimbabwean government to hold its 41st annual general meeting (AGM) in Victoria Falls this July. Shelter Afrique also expects to set up a southern Africa regional office in Harare, which will serve Botswana, Lesotho, Madagascar, Malawi, Mauritius, Namibia, Seychelles and Zambia.
Daniel Garwe, the National Housing and Social Amenities minister
“Our ministry is a private sector-led ministry in terms of mobilising funds for the construction of the many houses that we need to build. We don’t want housing to depend highly on the fiscus.
“The NDS1 (National Development Strategy1) has housing as a key deliverable. We want to deliver 220 000 housing units by 2025 and two million houses by 2030. Using our standard brick and mortar technology, that’s a huge mountain to climb,” Garwe told a press briefing last week.
“Urban Development Corporation is now at an advanced stage to access lines of credit.”
Garwe pointed out that Shelter Afrique also held its 36th AGM in Victoria Falls and its return for the 41st AGM demonstrated the renewed interest in Zimbabwe, which will provide a chance for the government to leverage on the opportunity in shaping the narrative towards robust human settlement delivery strategies.
“The gains to be accrued by Zimbabwe through hosting the AGM include regional integration, tourism and business linkages,” Garwe said.
Zimbabwe joined Shelter Afrique in November 1993 and since then the organisation has invested US$58,2 million in the country through nine separate facilities.
“Shelter Afrique seeks more partnerships with the private sector in Zimbabwe to build affordable housing in the country with the government of course providing an enabling environment to ensure that we deliver the affordable housing that is needed,” Shelter Afrique managing director Andrew Chimpondah said.
“We give lines of credit to financial institutions to enable them to provide mortgages. We also provide financing to developers that have a strong record, that have already provided 1 000 housing units or more, “he added.
He said the host agreement with Zimbabwe highlighted Shelter Afgrique’s role as a catalyst in the industry and its ability to leverage partnerships.
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