The Prime Minister Gideon launched a mortgage scheme. Did you get a slice of the cash? The Financial Gazzete highlights below that about half of the allocation was loaned out within one eek. How is that possible bakithi?
12/2/2004 7:21:08 AM (GMT +2)
THE Estate Agents Council (EAC) has called for the expansion of the Homelink Housing Development Scheme, which has reportedly generated enthusiasm among Zimbabweans in the diaspora, to include the locals as well.
EAC chairman Tavenganiswa Mabikacheche told The Property Gazette this week that similar projects should be put in place for locals so that they do not feel being left out.
He urged other institutions to complement the Reserve Bank of Zimbabwe (RBZ), which pioneered the Homelink initiative.
?If not through the RBZ, as it cannot do everything, building societies, insurance companies, pension funds and private developers should come up with similar schemes where loans for the purchase of properties can be obtained at affordable terms,? said the EAC boss.
The Homelink Housing Development Scheme is the latest investment product to be offered to Zimbabweans living abroad.
The project was initiated in response to requests from Zimbabweans living abroad to enable them to construct or buy houses or residential stands in the country.
Under the programme, participants access loans through registered agents, and repay in foreign currency within a period of five years.
Interest on the mortgage loans will be based on interest rates prevailing in the country where the applicant is based.
Within the first week of its launch, a total of $400 billion had reportedly been disbursed under the Homelink Housing Development Scheme.
