Navigation: Global Zimbabwe Masvingo Cooperative

Masvingo Cooperative

  • Status: Complete
  • People Housed: 860
  • Country: Zimbabwe
  • City: Masvingo
  • Partner: ZINAHCO
  • Year Approved: 2012
Total Invested
USD 762,391
Total Invested
$762,391
Delivery of Homes
Total Expected
Completed
Basic
172
172
Project Overview

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.

172
Homes Completed
172
Homes Occupied
172
Connected to Water and Sanitation

Client Data

Household Demographic Data
Household Size
5.00
Proportion Female
51.3
Proportion Children
34.0
Proportion Elderly
2.9
Housing Information
Description Type Number Completed
n/a Basic 172

Project Finances

Displayed In USD $

Investments — Reall to Affordable Housing Partners

Total Project Investments
USD 762,391
$ 762,391
Loans
USD 513,041
$ 513,041
Grants
USD 249,350
$ 249,350

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

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Data last updated on 10/03/2021