New committee to spearhead Udcorp

New committee to spearhead Udcorp
Published: 26 July 2017
THE Urban Development Corporation (Udcorp) board has set up a committee to spearhead its transformation, as it seeks to place itself as the leader in the provision of low-income houses after receiving large pieces of land from the government.

Udcorp board chairperson, Thomas Sakala yesterday said the committee will be responsible for reviewing the Udcorp Act, as well as the organisational structure, strategy and resource mobilisation.

"The committee will be headed by former BancABC group managing director, Hashmon Matemera and will include Udcorp's legal advisers Messrs Honey & Blackenberg Legal Practitioners, an engineer and a financial analyst," Sakala said.

The committee is expected to complete its task in two years beginning from August 1, 2017.

"It is hoped that the revamp of Udcorp will result in the corporation being able to further its mission of facilitating planned and sustainable urban growth and development in Zimbabwe and more particularly in providing affordable housing and related infrastructure to the people of Zimbabwe," Sakala said.

The exercise is expected to be leveraged by the recent injection of $30 million Treasury Bonds by the government.

Udcorp has in the past been involved servicing residential stands in parts of Chikanga in Mutare, Kambanji in Harare and Riverside in Chitungwiza.

The institution has also developed flats in Harare, Bindura and Marondera.

Udcorp is currently involved in regularisation of informal settlements in Caledonia, a 2 300-hectare mixed use settlement, with over 29 000 stand holders in Harare. It is also working on a similar exercise in Gimboki in Mutare, as well as Harare North and Harare South.

The State-owned enterprise is also creating new settlements in Norton, Goromonzi, Manyame and Bulawayo with an estimated capacity to provide 40 000 stands. 
- newsday
Tags: Udcorp,

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