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Herald Reporter
The Government has revived the Urban Development Corporation (Udcorp), enabling it to be up to date with its annual general meetings.
Udcorp is jointly administered by the Minister of National Housing and Social Amenities and the Minister of Local Government and Public Works.
Speaking during Udcorp 2023 annual general meeting in Harare today, National Housing and Social Amenities Deputy Minister Musa Ncube said the corporation is now back on track, well poised to contribute to National Development Strategy 1.
“We expect Udcorp to be one of the leading players in the delivery of housing and related infrastructure,” he said.
“We also expect the corporation to be Government’s conduit for private sector investment in housing and related infrastructure.
“We are pleased with the progress made in improving the governance at Udcorp. As you may be aware, the corporation had gone on for years without holding annual general meetings. The backlog in annual general meetings has now been cleared.
“A combined annual general meeting which covered the years 2020, 2021, and 2022 was held on March 27, 2023. Today, September 12, 2024, the corporation successfully held the 2023 annual general meeting.”
Deputy Minister Ncube said going forward, they expect Udcorp to hold annual general meetings in time in line with the Public Entities and Corporate Governance Act.
Online Reporter