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The Cabinet has considered and approved the Memorandum of Understanding (MOU) between the country and Shelter-Afrique Development Bank.
The Minister of Justice, Legal, and Parliamentary Affairs, Honourable Ziyambi Ziyambi, has presented the MOU to the Cabinet, outlining the proposed amendments to the establishment of the Company for Habitat and Housing in Africa (Shelter-Afrique).
“Shelter-Afrique Development has to implement the original vision and its intention to establish the African Housing Development and Finance Institution. The company was established by the Constituent Charter of the African Union in 1982 as a financial institution to help the African Member States to deliver affordable housing”.
The approval marked a significant milestone for Zimbabwe’s housing sector, as it would pave the way for increased access to affordable housing for citizens. The country’s Class A shareholder status would enable it to participate in decision-making processes and benefit from Shelter-Afrique’s financial resources and expertise.
This is a major step towards fulfilling its commitment to providing affordable housing solutions to its citizens which is inclined with the country’s vision for economic development and social welfare.
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