Datco takes over Tynwald scheme

begun servicing the stands and this initial phase would be complete by the end of this year.
“The servicing of the area, which is around 13,6 hectares, has already begun with the setting up of sewer and water reticulation systems as well as roads underway. We expect this to complete by the end of the year,” he said.
According to Mr Manengureni, construction of houses will take 24 months to complete.
The project is expected to benefit around 300 families, with 268 already having agreed to take up stands. The 268 include those who were initially part of the ZimTrust Housing Finance project.
Datco Group has other projects across the country. The Tynwald South housing scheme is the first phase of Datco’s low-income housing scheme across the country.
In other areas, Muzarabani will get 10 000 units, Gweru 3 500 units, Marondera 1 600 units, Hwedza 4 300 units and Bulawayo                    5 000 units, among other projects.
The company also has several other partnerships with co-operative trusts in a number of areas.
Earlier this year, the company entered into partnership with insurer Progressive Insurance Brokers (Pvt) Ltd that will see housing scheme members being covered under life assurance and accident cover.
“The idea was to mitigate the risk for members of Datco’s housing schemes. Mortgages tend to be very risky and we believe that they should be secured,” said Mr Manengureni.
Housing is one of the biggest challenges facing Zimbabwe’s socio-political economy.
Official statistics show that there are over 1,2 million households without houses and around 500 000 living in unserviceable shanty structures, and low-cost housing schemes can play a critical role in reducing this housing deficit.