The Housing Fund, started in 2011, aims to create 15,000 low-cost housing units in five years. Its first initiative is the Budiriro Housing Project, launched by a three-way agreement between the City of Harare, Old Mutual and its wholly-owned banking subsidiary, CABS.
This $62 million project, which will add 3,102 new homes to Harare's housing stock, shows how the private sector can partner with local and central government to address some of society's most basic needs. It focuses on housing for people on low incomes as they are the worst affected by Zimbabwe's huge housebuilding backlog. The first batch of houses were handed over in September 2014.