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GOVERNMENT has committed to providing land in Harare for the establishment of a Southern African Development Community (SADC) regional office for Africa-focused housing financier, Shelter Afrique.
“Cabinet approved Shelter Afrique’s pledge to invest in Zimbabwe through funding mixed housing construction ranging from 3 000 to 10 000 units,” said Information, Publicity and Broadcasting Services Minister, Monica Mutsvangwa, in a post-Cabinet media briefing on Tuesday.
She said Cabinet has approved establishment of a building technology plant with a proposed shareholding of 51/49 for Shelter Afrique and the Government of Zimbabwe respectively.
Also approved was the establishment of a regional office for the SADC region in Harare in which “Government will provide the requisite land”, said the minister.
Following the 40th Annual General Meeting and Symposium of Shelter Afrique that was held from 20 to 25 June 2021 in Yaounde, Cameroon, Zimbabwe has been elected 1st vice chairperson of the Shelter Afrique Bureau and will host the 41st AGM and Symposium.
In May, BancABC, the local banking unit of pan-African financial services group Atlas Mara, concluded an US$11 million housing finance deal with Shelter Afrique. The combined US$11 million housing financing facilities will be deployed towards the development of 2 500 housing units for low- and middle-income groups.
The bank has previously collaborated with Shelter Afrique in housing schemes and in 2011 the two concluded a US$7 package for construction of 150 housing units. In 2015, Shelter Africa extended a US$5 million loan facility to BancABC to finance the trade activities of importers and exporters of building materials and equipment.
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