By Correspondent
Harare Council has put on hold a housing project in conjunction with the Infrastructure Development Bank of Zimbabwe (IDBZ) as it investigates shady land deals.
The Chairperson of the Audit Committee Blessing Dumba revealed the position during a recent Committee meeting.
Duma said they “had made a resolution that consideration of all Joint Ventures for housing including those individuals who had been allocated land which was more than one hectare for various housing purposes be held in abeyance.”
“The Audit Committee is investigating such allocations and Joint Ventures dating back from 2017 to date.
“Hence there is need to put the matter in abeyance until such investigations were finalized.
The Committee also added that no individual should be allocated more than one unit of cluster housing land.
Future allocations must now also be drawn from the housing waiting list.
The Committee says it will be calling Directors and other Council Officials which it deems critical to give information.
IDBZ in conjunction with the Council initially floated an ZWL$80 billion housing bond in 2007.
The two intended to raise money to fund the construction of housing projects.
They would be administered by a special purpose vehicle Waneka Investments (Private) Limited created by the two organisations.
IDBZ is a government-owned development bank, mandated to fund long and medium-term funding for key infrastructure projects.
