The Government has intensified efforts to expand access to affordable housing, with the National Building Society (NBS) recording a surge in its mortgage book to US$52 million, alongside a US$3 million allocation for low-cost housing projects targeting civil servants and low-income earners.
The developments come as authorities scale up housing delivery under the National Development Strategy 2 (NDS2), with NBS playing a key role in reducing the national housing backlog, estimated to exceed 1,5 million units.
The momentum was reinforced on Monday in Harare during a Performance Contracts Signing Meeting involving key State-linked institutions, including the National Building Society (NBS), National Social Security Authority (NSSA), Zimbabwe Institute of Public Administration Management (ZIPAM) and the Tripartite Negotiating Forum (TNF), as the Government sharpens accountability and service delivery.
Public Service, Labour and Social Welfare Minister Edgar Moyo said the housing drive is part of a broader Government push to deliver tangible results as the country moves towards Vision 2030.
“As we enter this final decisive stretch towards Vision 2030, let us treat these contracts not merely as documents, but as solemn pledges and our collective commitment to deliver results for our institutions and to uplift the lives of our citizens,” he said.
“Let us remember that our people expect more from us, His Excellency the President demands excellence from us, and as a ministry we challenge each of you to deliver meaningful results that will transform the circumstances of our people.”
Minister Moyo commended NBS for its contribution to improving access to affordable housing, particularly for Government workers.
“I would like to commend NBS for its efforts towards improving access to affordable housing, particularly for civil servants and low-income earners. Good progress has been made on the Rangemore Project in Bulawayo and Glaudina flats here in Harare,” he said.
Minister Moyo said institutions must now prioritise impactful programmes that directly improve livelihoods, with agencies such as NSSA expected to continue leveraging pension-backed financing, while ZIPAM and TNF play complementary roles in strengthening public sector performance and social dialogue.
“I hope that as you start implementing your NDS2-aligned Strategic Plan 2026–2030, you have all prioritised impactful programmes, projects, outputs and outcomes that transform the livelihoods of our people and contribute to the realisation of Vision 2030,” he said.
Presenting the institution’s performance update, NBS board chairman Mr Shingi Mutumbwa said the mortgage book grew from US$29 million in 2024 to US$52 million in 2025, reflecting increased uptake of housing finance.
“Our mortgage book has grown significantly, reflecting both increased demand and our commitment to supporting home ownership,” he said.
NBS achieved a total comprehensive income of US$3,4 million in 2025, while its core capital rose to US$57,1 million, well above the regulatory minimum, supported by a US$14 million injection from NSSA.
The society has delivered 124 residential stands in Plumtree, 300 housing units in Bulawayo, and 96 apartments in Harare’s Glaudina suburb, with further projects lined up across the country.
For 2026, NBS is targeting the delivery of 400 housing units in Harare, Bulawayo and Mutare, as well as 400 serviced stands in Masvingo and Gweru, as part of efforts to scale up housing supply.
As part of the expanded housing push, NBS is spearheading the Accelerated Presidential Housing Scheme, which is expected to deliver about 4 000 housing units in Bulawayo through partnerships with private developers.
The project, being implemented in Emthunzini and areas west of Nkulumane 12 suburb, targets civil servants under a zero-deposit model, easing access to home ownership.
NBS, a subsidiary of NSSA, is funding the initiative through pension-backed financing, reinforcing the role of long-term capital in national development.
The performance contracts are expected to strengthen accountability across State-linked institutions, with the Government and the Office of the President and Cabinet set to closely monitor progress against agreed targets.
