Zimbabwe pension fund injects $17 million in Dzivarasekwa housing project


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The National Social Security Authority (NSSA) says it has invested $17 million towards its Dzivarasekwa housing project, through its wholly owned mortgage lender, National Building Society (NBS).

The first phase of the project targets to deliver 600 low cost housing units.

“We expect to complete 300 houses in Dzivarasekwa and another 250 in Caledonia by March next year. The Dzivarasekwa project directly employs 700 people and 115 of them are women,” said NSSA general manager Elizabeth Chitiga during a tour of the project today.

This year the mortgage lender has constructed 3 000 houses and plans to build another 10 000 in 2018

NBS acting managing director, Lameck Danga said the bank is planning to embark on similar projects for the low income earners across the country.

“We are still looking at doing similar projects in Gweru, Marondera, Bulawayo and another one here in Harare,” he said.

Zimbabwe is estimated to have a housing backlog of nearly 1.25 million and government has set a target to build more than 300 000 houses by 2018.- The Source

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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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