Urban Development and the Financing of Low-Income Housing in Zimbabwe, Post-2000

Abstract

This chapter explores, documents, and analyses the impacts and implications of by the absence of a robust package for low-income housing finance in Zimbabwe, using case study and document review (with thematic content analysis). The current operation system for low-income housing finance is through a multilateral partnership of the public, community, and private sectors. The private and public sectors define the orthodox finance system, while the community sector represents the informal approaches to housing microfinance. Due to the failure of the economy and the exclusive nature of banking systems, most people do not qualify for formal housing finance systems. This exclusive nature of the available housing finance comes against a bulging urban poor population. The microfinancing mechanisms that have emerged present challenges to both the providers and the end-users. One of the major challenges is tenure security that is not guaranteed for housing provided via the informal systems. This problem surfaced in 2015 with the rise of the land barons who duped home seekers. It is concluded that providing low-income housing in Zimbabwe over the last two decades (2000–2020) has been characterised by serious disharmonies, inconsistencies, and instabilities—mostly victimising the poor. It is suggested that a robust system of housing finance be developed with substantive backing by the government, with sustainable urban planning being the launchpad for this.