Bulawayo is the second largest city in Zimbabwe, located in the west of the country. 72 single storey detached units were built serving members of a local housing cooperative. These three room homes were constructed with the option for further extension by the homeowner. All homes were fully serviced with household water, sanitation and electricity.
Reall and ZINAHCO funding was lent to the cooperatives, which in turn extended individual loans to member clients, allowing them to purchase the new houses. Clients were required to pay a base repayment of $40 USD a month, which rose to $70 after the family was able to move into their purchased house; an increase made possible as the family no longer had to pay rent on previous accommodation. With the houses built in phases, repayments from units already built were recycled each month to help decrease the need for fresh capital investment.
Of USD 336,324 total investments, USD 7,184 was recycled funds from previous project payments
Of $336,324 total investments, $7,184 was recycled funds from previous project payments
Based on exchange rate on 31/12/2020
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Data last updated on 10/03/2021