adminRaymore Mwerahari
The Zimbabwe Defence Forces (ZDF) has embraced the National Development Strategy 1 (NDS 1) on infrastructure development by providing affordable houses, housing loans and stands for members through the ZDF Benefit Fund (ZDF BF).
The director Zimbabwe Defence Forces Benefit Fund, Colonel Farai Brian Rwizi said since the adoption of NDS 1 by Government in 2021, the ZDF had managed to acquire more than 5 000 residential stands, handed over several housing units and availed housing loans to a number of its members. He revealed that the fund had sought the assistance of the relevant Government departments in acquiring land and is exploring other avenues to meet the high demand for stands.
“The fund managed to acquire more than 5 000 residential stands and some of the stands were developed into houses since promulgation of the NDS 1. The fund was able to acquire land from the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development through the Ministry of National Housing and Social Amenities for allocating stands to its members. To date, the ministry has provided land in Kadoma and Marondera.
“However the pace at which the ministry is acquiring land is not meeting the increased demand for stands by the ZDF BF members hence the fund made its own effort to acquire land through local authorities which are providing stands throughout the country,” said Colonel Rwizi.
He added that the fund faced challenges in 2008-09 due to the hyperinflationary environment and to ensure that the fund does not find itself in a similar situation in future, they are investing more in income generating projects to become self-sustaining.
“The fund grounded to a halt in 2008-2009 due to the then prevailing hyperinflationary environment and to avoid the same scenario in future, the fund’s direction has shifted towards self-sustenance which has seen it acquire income generating ventures,” he said.
With the demand for houses and residential stands being high, the risk of being duped by unscrupulous land barons is high and Colonel Rwizi encouraged members to avoid such scenarios by acquiring stands legitimately through the fund. “Convenience and security to the members of the fund is guaranteed because the acquisition process is handled by the fund thereby creating a peace of mind to our members and their spouses,” he said.
Besides offering residential stands and houses, the ZDF BF also offers consumptive loans, project assistance loans and emergency loans in times of funeral and medical distress to its members with minimum interest rates.
Online Reporter