This project is located in Masvingo, the oldest urban settlement in Zimbabwe. A commercial centre for cattle ranching and agriculture, it is also surrounded by gold and asbestos mines resulting in large population growth and high demand for affordable housing. Single storey core houses were constructed, fully serviced with household water, sanitation and electricity, and with the option of further extension by the homeowners.
The project clients are longstanding members of two local cooperatives. The land was previously purchased by the community and funding provided by ZINAHCO was used to extend individual loans to member clients, allowing them to construct and purchase the single-story units. 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 762,391 total investments, USD 64,881 was recycled funds from previous project payments
Of $762,391 total investments, $64,881 was recycled funds from previous project payments
Based on exchange rate on 31/12/2020
Be notified each time our data is updated by joining our mailing list.
Want to download this data? Click here to access our data explorer.
Data last updated on 10/03/2021