HARARE, Zimbabwe — CBZ Holdings Limited (CBZHL), the country’s largest financial services provider, has introduced a suite of lucrative Mortgage Finance products, targeting Zimbabweans living abroad.
This initiative comes ahead of the highly anticipated Zim Diaspora Property Showcase, set to take place in Birmingham, United Kingdom, on July 13.
The new mortgage finance offerings are designed to address the long-standing challenges faced by diasporans in securing financing for immovable property in Zimbabwe. Historically, many Zimbabweans living abroad have struggled to obtain credit from local financiers due to geographical barriers and other logistical challenges.
Organized by Seeff Zimbabwe, the inaugural Zim Diaspora Property Showcase will provide a comprehensive platform for diasporans to explore the property market back home. The event will feature insights from industry experts and engagements with exhibitors across various sectors, including real estate, property development, legal, finance, and construction.
Speaking to NewZimbabwe.com, Chenai Chiketsani, CBZHL’s Divisional Director of Mortgage Finance, highlighted the array of new products that will be unveiled at the showcase.
“CBZ Bank Mortgage Finance is the lead player in the provision of housing solutions. Our aim for this event is to engage Zimbabweans in the Diaspora who are interested in investing in real estate back home,” Chiketsani said.
“We have quite exciting products that we are offering to the diaspora market, ranging from financing for the acquisition of stands, financing building and existing properties, to residential, agro-residential plots, or commercial properties, including cluster developments. Those who would like to do property improvements are also catered for,” she added.
Chiketsani is one of the speakers at the Zim Diaspora Property Showcase, which offers free registration for attendees. She emphasized CBZ Bank’s role in augmenting housing stock through residential housing developments.
Current projects are available for sale in cities such as Gweru, Kwekwe, and Mutare, with future developments planned in Ardebennie, Barrington, Glen View, and Mufakose in Harare, as well as in Ruwa and Beitbridge.
“We are quite upbeat about our participation as the only exhibiting bank among our partners in the value chain, which includes property realtors, developers, and building materials suppliers. The diaspora proposition is pivotal to the Bank’s strategy as we endeavor to economically support and empower Zimbabwean diasporans through mortgage financing,” Chiketsani said.
CBZHL, a wholly-owned subsidiary of a diversified and publicly listed financial services group, offers a complete range of financial services through its various subsidiaries. These services encompass banking, short and long-term insurance, asset management, agriculture, and property investments.
CBZ Holdings’ new mortgage finance products and its participation in the Zim Diaspora Property Showcase underscore its commitment to fostering homeownership among Zimbabweans living abroad. By addressing the unique challenges faced by the diaspora community, CBZHL aims to enhance economic empowerment and support national development goals.
