VISET Response with Regards to the Proposed Informal Sector Housing Scheme

The Vendors Initiative for Social and Economic Transformation (VISET) welcomes remarks by Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa in Parliament that government is coming up with mortgage financing to cater to the informal sector which is often excluded by financial institutions due to stringent conditions that favor those in formal employment. This initiative, though long overdue, is most welcome and will hopefully lead to a change in mindset of traditional banks that they need to cater for a sector that contributes over 60 percent of GDP and accounts for over 80 percent of employment in the country.

Article 25 of the Universal Declaration of Human Rights of which Zimbabwe is a signatory to, says that citizens must be guaranteed the right to shelter, and we at VISET hope that Minister Mutsvangwa’s reported remarks in Parliament will lead to consultations with informal sector representatives to hear their views before promulgation of any government policy in that regard.

Source: Vendors Initiative for Social and Economic Transformation (VISET)