Zimbabwe News Update
newzimbabwe
2 min read
the government has pledged more land to the urban development corporation (udcorp) after the parastatal completed a successful, profitable transformation strategy. during a tour of knockmallock mixed housing project in chegutu last friday, stakeholders had the opportunity to ask questions and get full details of the project, which will benefit both the low-income earners, middle class and the bourgeoisie. the project, under a developmental initiative partnering chegutu rural district council, udcorp’s knockmallock mixed housing project is a self-contained project with residential stands, commercial stands, a light industrial park, and institutional stands such as schools, churches, cemetery and others.
local government minister, daniel garwe, in a speech read on his behalf by the chief director of spatial planning and development in the ministry, shingirayi mushamba said udcorp is “strategically positioned to play a leading role” in the government’s “call to action – no compromise to service delivery.” mushamba confirmed that the ministry would allocate more land to udcorp to empower its national development role. udcorp chief executive officer (ceo) joy shumbamhini, addressing stakeholders, said the ‘’transformation journey began on april 7, 2023, when the udcorp board approved a very ambitious transformation strategy to turn around its fortunes. “udcorp’s brand had gone bad and was associated with bad things, but we have invited you today to witness a new udcorp.
‘’today i stand before you to reflect a profound strategic journey of transformation, resilience, and tangible progress, because we are talking in the office where we are doing this project, and we wanted you to come and see for yourself the work that is being done in the creation of a new setup,’’ shumbamhini said. in 2023, udcorp launched a transformation journey, naming it ‘transformation restore udcorp prosperity’. ‘’our first part of the transformation journey was to put our house in order, and amongst our 10 objectives was to turn around udcorp from a loss-making to a profit-making organisation. ‘’the corporation was making losses for years, and it was not sustainable. the second objective was to mobilise resources from the private sector, local and regional financial institutions.
the third objective is to unlock the udcorp land bank and resuscitate project works,’’ shumbamhini added. the parastatal managed to clear its backlog in terms of annual general meetings.the corporation had gone for a number of years without presenting annual audited financial statements to stakeholders.
