Fungai Lupande Mashonaland Central Bureau
Reserve Bank of Zimbabwe Deputy Governor Dr Kupukile Mlambo last week commissioned 68 of 329 low-cost houses that were built by Homelink Finance in Brockdale, Bindura, for low-income earners.
Dr Mlambo said such housing projects will reduce the national housing backlog, which stands at over one million units.
He added that provision of affordable housing to Zimbabweans is in line with Sustainable Development Goal 11, which seeks to ensure access to adequate, safe and affordable housing for all by 2030.
“There is an urgent need to reduce the deficit in housing supply, particularly for the low-income segment of the economy,” said Dr Mlambo.
“The central bank considers housing as an essential cog in the infrastructure ecosystem. As a result, we have opened up mortgage lending to other financial institutions such as commercial banks and micro-finance institutions.
“Such initiatives are also aligned to Government’s target of attaining upper middle-income status by 2030. The banking sector funded nearly 6 000 new housing units worth over $172 million in 2017, up from 1 531 housing units worth $75 million funded in 2016. By the end of 2018, nearly 12 000 new housing units are expected to be funded by the financial sector. The highest number of these housing units are targeting low-income households.”
Homelink managing director Mr Desmond Ali said RBZ Governor Dr John Mangudya presided over the groundbreaking ceremony five months ago and 68 houses are ready for the market, with the remaining 261 units expected to be finished by end of December this year.
He said in January they will start building student accommodation for universities in Bindura. Bindura Mayor Councillor Carlos Tokyo welcomed the development and implored Homelink to consider building schools in Bindura to decongest primary schools.