Zim Eligible to Access New Lines of Credit from Shelter Afrique’s US$25m Sovereign Loan
Zimbabwe is now eligible to access new lines of credit from the US$25 million Shelter Afrique sovereign loan after settling its loan obligations.
Updating the nation on Tuesday during a post-cabinet brief, Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa said Zimbabwe was applauded for being one of the countries whose financial sector had cleared loan obligations and is thus eligible to access new lines of credit.
“Zimbabwe is among the first countries to benefit from a US$25 million Sovereign Loan because of the positive credit rating and are eligible to access financing housing development in their areas.
“All local authorities are urged to take advantage of such facilities. Also, all the five housing development companies that attended the Meeting have since submitted proposals already under consideration as they clearly benefit from the fruits of the Second Republic’s engagement and re-engagement policy.
“This should boost development in the housing development sector and thereby hasten the attainment of our goals for Vision 2030,” she said.
National Housing and Social Amenities Honourable Minister Daniel Garwe attended the 42nd Annual General Meeting of Shelter Afrique held in Abuja, Nigeria from 8 to 12 May.
The Minister led a delegation comprising senior Government officials, Town Clerks from 7 local authorities namely; Bulawayo, Gweru, Mutare, Kwekwe, Chinhoyi, Rusape and Epworth.
The delegation also included representatives from UDCORP, the National Building Society, Fidelity Life, Leengate Development Company and Cape Valley Properties. The AGM was attended by 44 of the 55 member states represented at the ministerial level.
Of particular note at the AGM was raising housing bonds locally, which was demonstrated via a pilot project in Nigeria where 1 trillion Naira was raised through local banks.