Zimbabwe secured over $1 billion for housing projects under its first national development plan, far exceeding the $233.75 million target set by authorities. Housing Minister Zhemu Soda said on Friday that the achievement shows growing investor confidence in the nation's property and infrastructure sectors. The government delivered more than 800,000 residential units after the Cabinet raised the original goal of 220,000 homes to one million.
The country holds Class A shares in Shelter Afrique Development Bank and has accessed $85 million from the institution since 2010. Officials applied to increase their stake from 1.25 percent to 5 percent through an $8.8 million facility from the Arab Bank for Economic Development in Africa. Private developers funded projects worth millions of dollars after receiving government letters that qualified them for prescribed asset investments.
President Mnangagwa launched a title deed program in 2023 to legalize informal settlements by improving infrastructure and registering properties. The regularization effort operates through a user-payment system in which residents repay development costs over time. Zimbabwe signed housing cooperation agreements with Egypt, Rwanda, Angola and Botswana while negotiating partnerships with Kenya and Algeria.
The country holds Class A shares in Shelter Afrique Development Bank and has accessed $85 million from the institution since 2010. Officials applied to increase their stake from 1.25 percent to 5 percent through an $8.8 million facility from the Arab Bank for Economic Development in Africa. Private developers funded projects worth millions of dollars after receiving government letters that qualified them for prescribed asset investments.
President Mnangagwa launched a title deed program in 2023 to legalize informal settlements by improving infrastructure and registering properties. The regularization effort operates through a user-payment system in which residents repay development costs over time. Zimbabwe signed housing cooperation agreements with Egypt, Rwanda, Angola and Botswana while negotiating partnerships with Kenya and Algeria.
