According to a report by international property firm Knight Frank, rents in Zimbabwe are the lowest in sub-Saharan Africa. The same report states that the issue is due to long existing economic problems that lead to very low demand for properties in all sectors. The most expensive residential properties in Zimbabwe have an average of $2,000 per month, the most expensive after Botswana at an average of...
The US dollar replaced the worthless Zimbabwe dollar in 2009 but over the last 18 months, the economy struggled because of a domestic shortage of greenbacks. There were rumours that last month the central bank was buying black market US dollars creating general panic within the country. Cash has enjoyed a steady 10% to 20% premium over dollars stored electronically in bank accounts (zollars) but with...
Priccilar Vengesai, a female lawyer in Zimbabwe, has started a legal challenge to abolish the bride price (lobola). She said that the practice is outdated and turns women into properties. The lawyer has filed papers in Zimbabwe’s Constitutional Court asking to hear her case because the practise violates her rights as a citizen. She believes that if a price is to be paid, then both families should pay...
Zimbabwe moved from 161 to 159 in the World Bank rankings. Its rise has been attributed to improvements in the ease of setting up a new business. The World Bank rankings also measure aspects of regulation affecting eleven areas of the life of a business, ten of which are included in this year’s ranking on the ease of doing business: Starting a business Dealing with construction permits...
Beneficiaries of houses under the City of Harare and CABS’ Budiro housing project claim that infrastructure deficiencies are compromising their standards of living and they have filed a petition for the developers to take urgent action on the matter. Residents are demanding the rehabilitation of Marimba Road, speed humps on busy roads within the Budiriro 5 extension area, regular refuse collection,...
First Lady Grace Mugabe seems to have a spending habit. Even though her business empire is incurring perennial losses since 2003, she has spent millions of dollars on cars, houses and jewellery. This is not it. Grace has lately gone on a mission to expand her real estate portfolio and she purchased a US$4,2 million plot in the exclusive Helensvale area of Harare’s Borrowdale suburb. The plot was meant...
Zimbabwe has seen an increase in mortgage financing in the past years because of an increase in demand for housing and also due to a diversification by commercial banks to areas previously reserved for building societies. According to the economist Kipson Gundani the mortgage finance providers are increasingly tailoring their products to adapt to the needs of different people, particularly those...
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