Govt to invest $264m in housing

 Govt to invest $264m in housing
Published: 22 December 2018 (157 Views)
Government will next year invest $264 million in residential housing construction to cut a national backlog estimated at over 1,3 million.

The demand for housing has over the years outstripped supply, driven by rural-to-urban and inter-city migration in major cities such as Harare, Bulawayo, Gweru and Mutare, where people believe there are better prospects for employment.

The 2019 Infrastructure Investment Plan drafted by the Ministry of Finance and Economic Development shows that the Government will make policy interventions to allow development of multi-sectorial partnerships in the provision of shelter.

"The current housing backlog stands at over 1,3 million countrywide, with Harare accounting for the bulk of this requirement. As a result, prevalence of informal settlements that lack basic infrastructure and sustainable service has increased significantly across most towns and cities," reads the Infrastructure Investment Plan document.

It noted that the Government alone could not meet the rapidly growing demand for decent shelter, especially in urban areas.

"An amount of $264 million will be invested into the housing sector during 2019, comprising of $192 million in fiscal resources and $71,9 million from the market and public entity contributions. The task of improving inclusive settlement will require investments beyond the capacity of the Budget," reads the document.

"In this regard, Government will institute policy interventions that will allow for the development of synergies and participation of all stakeholders, including private sector, employers, citizens and development partners in the provision of shelter," it says.

Official figures show that Zimbabwe requires about 15 to 20 years to clear its national housing backlog that has ballooned over the years.

Government has stated that it will come up with various financing strategies to provide low-cost serviced land for housing development in partnership with the Infrastructure Development Bank of Zimbabwe (IDBZ) and the Urban Development Corporation (Udcorp).

This also comes as Cabinet recently approved a deal between the Government and various building societies and financial institutions that include the Reserve Bank of Zimbabwe (RBZ), the National Social Security Authority (NSSA) and the Infrastructure Development Bank of Zimbabwe (IDBZ), for the construction of the houses.

Local authorities have started processes to identify land. In Harare, suburbs such as Mbare and Mabvuku are earmarked to benefit from the project, with the local authority set to give priority to high rise structures.

Bulawayo has also identified at 15 sites where houses will be constructed while Mutare indicated it would conclude site identification this week. In Kwekwe, construction sites for the low income houses have already been identified. Kadoma has set aside at least two farms for the programme.

Government has also begun regularising illegal settlements in selected urban areas, with a Commission of Inquiry set up to look into the sale of state land in and around urban areas since 2005 already hard at work.


- herald

Tags: Govt,
 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Army rescues St Charles Lwanga students

by Staff reporter | 18 March 2019 | 53 Views

Government assures the nation on adequate grain in silos

by Simbarashe Sithole | 18 March 2019 | 49 Views

Linda Masarira speaks on deadly Cyclone Idai

by Mandla Ndlovu | 18 March 2019 | 62 Views

5 important parts of a blog post

by Jeremy Biberdorf | 18 March 2019 | 53 Views

Man drowns in bathtub

by Staff reporter | 18 March 2019 | 66 Views

Mthuli Ncube avails $50 Million to deal with Cyclone Idai

by Mandla Ndlovu | 18 March 2019 | 66 Views

PHOTO: Chiwenga back in good health

by Mandla Ndlovu | 18 March 2019 | 73 Views

Herald Editor clashes with America

by Mandla Ndlovu | 18 March 2019 | 69 Views

Death toll in Zimbabwe rises to 98

by Mandla Ndlovu | 18 March 2019 | 64 Views

Government responds to Kasukuwere's threats

by Mandla Ndlovu | 18 March 2019 | 122 Views

Suspected copper cable thieves electrocuted

by Staff reporter | 18 March 2019 | 95 Views

WATCH: Jubilation as Chamisa lands in Chimanimani

by Mandla Ndlovu | 18 March 2019 | 135 Views

US 2018 Human rights report on Zimbabwe biased

by Nobleman Runyanga | 18 March 2019 | 79 Views

Beyond the New my foot!

by Sam Wezhira | 18 March 2019 | 74 Views

Buyanga's AMG offers assistance to cyclone victims

by Staff reporter | 18 March 2019 | 89 Views

Joshua Nkomo's family describe Mnangagwa's govt as a 'dead donkey'

by Staff reporter | 18 March 2019 | 88 Views

High Court to decide Parirenyatwa's fate

by Staff reporter | 18 March 2019 | 72 Views

Komichi to appeal against conviction

by Staff reporter | 18 March 2019 | 68 Views

Mugabe's ex-deputy minister's house auctioned off

by Staff reporter | 18 March 2019 | 83 Views

Kasukuwere threatens, Zanu-PF ruffled

by Staff reporter | 18 March 2019 | 88 Views

'Zimbabwe embassies must issue IDs, passports'

by Staff reporter | 18 March 2019 | 60 Views

Small house challenges $50k adultery damages

by Staff reporter | 18 March 2019 | 70 Views

US 'very enthusiastic' about Mnangagwa govt

by Staff reporter | 18 March 2019 | 88 Views

President Mnangagwa a Tonga from Zambia?

by Mandla Ndlovu | 18 March 2019 | 142 Views

Bus swept away in Chimanimani

by Staff reporter | 18 March 2019 | 130 Views

Chipinge MP's wife survived by climbing a tree

by Staff reporter | 18 March 2019 | 121 Views

Zimbabweans struggle with storm floods

by Al Jazeera | 18 March 2019 | 105 Views

Jonathan Moyo recruits Kasukuwere

by Mandla Ndlovu | 18 March 2019 | 125 Views

Chamisa descends in Chimanimani as Cyclone Idai kills 82

by Mandla Ndlovu | 18 March 2019 | 94 Views

Rhodesia was 'successful' because essentially it was a province of SA

by Baffour Ankomah | 18 March 2019 | 97 Views

Army dumps Chipinge pupils?

by Mandla Ndlovu | 18 March 2019 | 89 Views

Chamisa in pole position as MDC Alliance congress beckons

by Staff reporter | 18 March 2019 | 53 Views

Mnangagwa back from UAE

by Staff reporter | 18 March 2019 | 68 Views

Mnangagwa to swear in Chidawu today

by Ndou Paul | 18 March 2019 | 71 Views