Africa housing indaba set for Zimbabwe

ZIMBABWE, through Shelter Afrique, is set to host 45 African countries in July to deliberate on housing financing on the continent.

Major international financiers, the International Monetary Fund (IMF), African Development Bank and other developers have confirmed participation including at least 25 reserve bank governors from the continent, a Cabinet minister has said.

The country is a shareholder of Shelter Afrique, a pan-African banking institution that exclusively supports the development of affordable housing and real estate sector growth in Africa.

International Monetary Fund (IMF)
Africa has a huge housing backlog, which has to be cleared by 2063, said Minister of Housing and Social Amenities, Daniel Garwe, during the launch of the Hopelyn Housing Scheme in Bulawayo last Friday.

The project is being implemented by a local banking institution, BancABC Zimbabwe. The regional Shelter Afrique Annual General Meeting will be held under the theme: “Climate Change and the Built Environment”.

“Being a shareholder and a paid-up member at Shelter Afrique we said we cannot be treated in the same way as other countries who are not paid up like us,” said the minister.

“Only five countries are paid up, Zimbabwe included, so we said we want to be part of the leadership. Last year when Zimbabwe was elected as first vice-chair of Shelter Afrique chief bureau, an organisation that is tasked with the responsibility of running the affairs in between the AGM.

BancABC
“Cameroon hosted Shelter Afrique AGM last year and this year an AGM is coming up in July. We lobbied and everybody agreed, so in July from 25 to 29 we are hosting 45 African housing ministers in Victoria Falls to discuss housing finance and construction. We will be assuming the chairmanship,” the minister said.

He added that Zimbabwe is set to benefit from a US$25 million sovereign facility.

US dollar
“Zimbabwe is receiving US$25 million from Shelter Africa for housing. This is the value we are unlocking from paying US$350 million to Shelter Afrique,” said Garwe.

“We are launching this particular programme when preparations are at an advanced stage for the country to host the Shelter Afrique 41st Annual General Meeting (AGM) and Symposium in Victoria Falls from 25 to 29 July 2022. The AGM will be held under the theme: Climate Change and the Built Environment.”

This unveils an opportunity to the Government to shape and lead the conversation on affordable housing in the region and confirms that the country is viewed as an ideal destination for foreign direct investments, the minister said.-The Chronicle