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Fairness Moyana Hwange Correspondent
THE Zimbabwe Mining, Agricultural, Residential and Tourism Trust (ZiMARTT) has approached Hwange Rural District Council (RDC) seeking permission to invest $6 million in construction of at least 3,000 low cost housing units in the district.Matabeleland regional chair for the trust Hillario Ngulube told Business Chronicle after presenting the project proposal to the local authority last week that the initiative was aimed at improving access to affordable housing and arresting accommodation shortage.

“This programme is targeting low income earners mainly those from the civil service, which accounts for the bulk of our membership. We’re targeting developing close to 3,000 stands,” said Ngulube, who is a local businessman and former Air Force of Zimbabwe officer.

He said the proposed site for the stands were areas in Ndlovu under Chief Mvuthu and places such as Mabale and Dete.

Ngulube said ZiMARTT has set aside $168 million for the projects to be undertaken in the next 24 months in towns and developing centres across the country.

He said the organisation, through its housing development vehicle, Gushungo R.G Mugabe Housing Syndicate Ltd, has successfully constructed 4,000 housing units with a total value of $6 million in Harare and Kariba.

Under the housing scheme members have an option of developing the stands on their own or allowing the organisation to do it with the beneficiary required to be paying back the money within a period of 25 years.

Ngulube said they have found a keen investor to fund the housing project and were also planning to venture into tourism and hospitality industry.

“We want to build shareholder value by providing and promoting new novel related activities. We shall create client desired space and structures, promote relevant products and system application. It’s important to note that $6 million has been budgeted for these projects in Hwange and Victoria Falls,” he said.

The multi-purpose organisation, which boasts of 4,000 membership in the region, has interests in mining and agriculture.

It has also set its eyes on developing a 100MW power station through the use of solar farms in Hwange, Kamativi and Binga to lessen the power import bill.

Council chairperson Siphiwe Mapfuwa acknowledged the proposal and said they would sit down as council to decide on the matter.

She, however, said council expected real development on the land adding that as long as the trust has proper papers and the capacity, availing land was not a problem.