The Cabinet met on Wednesday where members considered and approved the proposed Musha-Muzi Housing Programme for the Development of affordable housing.
The proposal was presented by Honourable Vice President Constantino Chiwenga, the Chairman of the Enhanced Cabinet Committee on Emergency Preparedness and Disaster Management.
Cabinet was informed that the Zimbabwe Investment and Development Agency (ZIDA) proposed the establishment of the Musha-Muzi Housing Fund.
The Fund will anchor and facilitate the sustainable financing and development of affordable housing for the lowest-earning members of society.
An independent housing governance ecosystem will be created to operationalise the scheme and assure participants of the utmost prudence in managing the Fund.
The Housing Programme comprises four phases. Phase 1 will target civil service employees and will be replicated countrywide, while phases 2, 3 and 4 will be extended to non-government employees.
The Cabinet was told that the Musha-Muzi programme is expected to build a four-roomed house on a 200 square-metre piece of land.
The Housing Programme will focus on the construction of high-rise developments in areas already serviced by existing municipal facilities in redevelopment areas.
For high-rise developments, an average of 800 square metres will be required for the development of four-storey units to cater for sixteen families.
The Fund will, through its Fund Managers, approve and appoint qualified and competent developers for the construction of the housing units, with each developer expected to construct a minimum of 50 units or more per development.
Developers will be paid on satisfactory completion of each development. Meanwhile, interested financial institutions with the capacity to provide mortgage facilities within the required financial levels will be given a stock of housing units to release to the market.
Identified and approved beneficiaries will then access mortgages through institutions at the indicated affordable housing rates.
The implementation of the Musha-Muzi project will be co-ordinated by the Ministry of National Housing and Social Amenities, in consultation with all relevant critical stakeholders. It will be based on a public-private partnership model.
The dates for the commencement of the housing programme are not yet known.
Source | Senator Monica Mutsvangwa