Africa-Press – Zimbabwe. HARARE, Mar. 26 (NewsDay Live) – ZB Financial Holdings (ZBFH), through its banking arm ZB Bank, has secured a US$12 million credit line from Kenyan lender Shelter Afrique Development Bank (ShafDB) to accelerate housing and infrastructure development across Zimbabwe.
As first reported by our sister publication, The Standard, in November 2025, ShafDB revealed it was working with local authorities to establish the Zimbabwe Mortgage Refinancing Company to provide long-term, affordable capital to banks and unlock the stalled mortgage market.
The Kenyan lender noted that mortgage finance in Zimbabwe has historically faced significant hurdles, with less than 1% of the population currently able to access formal home loans.
The development aligns with ShafDB’s push to support local housing, as the national housing backlog stands at 2 million units, according to the Ministry of National Housing and Social Amenities.
“ZB Financial Holdings (ZBFH), through its banking arm ZB Bank, has secured a US$12 million credit line from Shelter Afrique to accelerate housing and infrastructure development across Zimbabwe,” the group said in a statement.
“This partnership with Shelter Afrique is a milestone in advancing Zimbabwe’s national priorities under the National Development Strategy 2 (NDS2). Housing and infrastructure are central pillars of NDS2, as they directly support industrialisation, urban renewal and inclusive social development.”
The bank said expanding access to affordable housing would address one of the most pressing needs of Zimbabweans, while simultaneously stimulating job creation, supporting local construction industries and improving quality of life.
“At the global level, this initiative aligns with the United Nations Sustainable Development Goals, particularly Goal 11 on sustainable cities and communities. Our purpose — to improve lives through service — is realised here by building the foundations for sustainable growth and prosperity,” said ZBFH Retail and Digital Banking executive head Rudo Manjengwa.
“This facility is more than financing; it is about people. At ZBFH, our mission is to work hard every day to create happy people. By investing in housing and infrastructure, we are enabling families to find dignity in secure shelter, communities to thrive in stronger environments, and individuals to access opportunities that improve their lives.”
He said the partnership reflected the group’s brand promise of empowering lives and shaping futures.
“It is a call to action for all of us — financial institutions, businesses and communities — to work together in building a Zimbabwe where happiness, progress and prosperity are shared by all,” Manjengwa added.
Commenting on the agreement, ShafDB managing director Thierno-Habib Hann said US$8 million from the facility had already been disbursed.
“It is more than capital; it is our shared commitment to solving Zimbabwe’s housing challenges by addressing both the supply and demand sides of the housing value chain, transforming lives, and building lasting prosperity through affordable, accessible housing for Zimbabwean families,” he said.
“This latest development aligns with the framework set by ZBFH under the Sustainability Standards Certification Initiative (SSCI). ZBFH is indeed walking the talk.”
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