City to issue housing bonds

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    Bernard Manyenyeni

    Mayor Manyenyeni

    Municipal Reporter
    Harare City Council is working on raising between $40 million and $80 million bond finance to construct low-income houses.
    Harare Mayor Bernard Manyenyeni on Monday said this week the city would host housing expert Mr Jeremy Gorelick of the United States-based Affordable Housing Institute to discuss strategies of raising funds through municipal bonds.

    At the close of the visit, the two parties are expected to sign an agreement formalising the relationship.

    “Following the success of the Dakar Municipal Finance Bond Programme, the Affordable Housing Institute is interested in replicating the model elsewhere in Africa.

    “I have requested and positioned Harare for this possibility. The expert adviser Mr Gorelick will be in Harare from the February 11-13 to meet with us,” he said.

    Mayor Manyenyeni said Mr Gorelick was expected to meet with Local Government, Public Works and National Housing Minister Dr Ignatius Chombo to discuss housing investment.