US$1,5m shot in arm for homeless

(Zinahco) in partnership with Homeless International, will see completion of the construction of 870 houses in various parts of the country by March 2014.
Zinahco executive director Mr Ticharwa Kagu said the initiative was based on the co-operatives model where individual members are given US$5 000, which is enough to build a core house with sanitary facilities.
The money, he said, would be repaid over six years accumulating 15 percent interest.
Mr Kagu said the stand and the house would act as collateral.
“Unlike in banks where homeless people are asked to surrender a house as collateral we use the stands that they have to secure the loans and repay in six years,” he said.
Currently, he said 18 housing co-operatives were getting funding for their members and the numbers are set to increase as people start repaying the money they owe.
Each house is expected to be completed in two months. The programme started in March this year and some houses are complete while others are at various levels of development.
Each housing co-operative would get a maximum of US$25 000, which is enough to cover five members and the money is disbursed every month.
Zinahco president Mr Mike Duru hailed the partnership with Homeless International saying it brought hope for houses to hundreds of people who had no hope of making it with their own finances.