RBZ to launch housing project

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Reserve Bank of Zimbabwe

A RESERVE Bank of Zimbabwe (RBZ) subsidiary will today have a ground-breaking ceremony for a housing project in Tynwald.

BY BUSINESS REPORTER

rbz

Homelink (Pvt) Ltd, through its strategic business unit (SBU) Proplink, will launch the project in which 100 housing units will be built and 80 housing stands will be serviced.

Proplink was born out of the re-organisation of Homelink by creating four SBUs — Proplink, Easylink, Masterlink and Investlink — to enhance Homelink’s ability to mobilise Diaspora remittances both for consumption and investment purposes.

Proplink is focused on industrial, commercial and residential development for the Diaspora.

In his mid-term monetary policy review, RBZ governor John Mangudya said Proplink would also develop shopping malls, factories, office complexes, schools, hospitals and resort facilities.

He said the development of these facilities would be financed through Diaspora property development bonds with subscribers in the Diaspora having the option for equity participation.

Mangudya said Proplink would also construct low-cost houses and offer stands and mortgage loans to Diasporans. He said other than the Tynwald and Mabelreign housing projects, Proplink has housing projects for Bulawayo, Mutare, Masvingo, Norton and Kadoma in the pipeline. Proplink also offers medical and funeral assurance, property insurance and real estate management for Diasporans and their relatives in Zimbabwe.

6 COMMENTS

  1. Why not leave that business to building societies and concentrate on its core business on supervising the financial services sector or being the lender of last resort?

  2. now that their debt has been taken over by the government, they have more money to flaunt on houses, stands and shopping malls creating another problem later on

  3. A convenient opportunity to abuse funds. Never ceases to amaze me why they take on additional responsibilities when for starters they can’t accomplish their basic mandate. Thieves! !!!

  4. Mangudya is trying to do it the Gono way again or is he trying to turn RBZ into a CBZ project?????? I bet you the governor will tell u that these are extraordinary circumstances calling for extraordinary measures. kkkk

  5. Hameno vanoda ku investor ne Zanu.
    Ini Ian not in. Ndakadzidza zvakawanda.
    And why focusing on Diaspora. Ikoko hakuna ma investors here. Of course they are there. Wamwe vacho vari kuchema so imba dzapwanywa.
    Ko ini hangu ndisipo. Unongonzwa iweeeeee.
    Besides mari ye assylum seeker yakazombonaka riini. Iyoyi yekugeza chembere yotoiturwa special branch ku RBZ.
    Kkkkkkkkkk. Tipeyiwo maserious vanhu weeee.

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