CBZ Bank commissions 1 300 Vic Falls stands

VICTORIA FALLS — More than 1 300 stands have been commissioned in the resort town of Victoria Falls amid calls for beneficiaries to put up high-rise apartments to reduce maximum land usage.

By Nokuthaba Dlamini

The $12 million project, which is targeted at low and middle-income earners, is being implemented by CBZ Bank in partnership with the Victoria Falls Municipality.

The stands have been fully tarred with the sewerage and water reticulation system now in place.

Commissioning the project on Thursday, Local Government deputy minister Christopher Chingosho said the government’s goal was to provide shelter to all Zimbabweans.

“It is, indeed, a joyous occasion for us in the housing sector since the availability of serviced stands and well-planned land is a vital component in housing delivery,” he said.

“As you may be aware, the country is faced with daunting residential backlog of 1,25 million units. My ministry is mandated to deliver 125 000 units of fully serviced stands by year 2018 targeting the low income group in our society but however, government recommends a high rise apartments that makes maximum utilization and we wish to witness the same in Victoria Falls.”

CBZ Bank holdings chief executive officer Never Nyemudzo said all stands had been sold out and invited beneficiaries to start applying for mortgage loans to the bank.

He said the financial institution had invested $70 million in pursuit of servicing more stands countrywide with Marondera and Bulawayo starting to benefit next month.

The symbolic handover was done to one resident to represent other beneficiaries who were to get their allocations from yesterday going on.

The stands were initially going for $9 000 per 200 square meter going up, a cost which many residents said was too exorbitant.

The housing scheme has been hanging in the balance as close to 500 home seekers in the resort town were at logger heads with its local authority over land, which they invaded to stop the bank from allocating stands to beneficiaries.

They were arguing that they had been on the waiting list for more than 30 years while some said they feared losing their stands to outsiders.

However, Local Government minister Saviour Kasukuwere told journalists that none of the concerned beneficiaries would lose their stands.

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1 Comment

  1. All the concerned beneficiaries have lost their stands. Due to strong-arm tactics, VFM is no longer involved in allocating the stands. The bank, CBZ, hoodwinked the VFM, and so now ALL the stands have been allocated to Shonas from Harare. Not one local has been given a stand. Kasukuwere is a liar.

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