Zimbabwe: Westprop to Launch Mortgage Bank for Homebuyers

What the report says

WestProp Holdings Limited says it is close to launching a dedicated mortgage bank to serve homebuyers in Zimbabwe, with the remaining step focused on hiring a chief executive officer. The company’s chief executive, Ken Sharpe, said at the ZimReal Conference 2026 that preparations for the new lender were nearing completion and that operations were expected to begin next year.

According to the report distributed by AllAfrica from New Zimbabwe, the planned institution is intended to address Zimbabwe’s severe shortage of housing finance. The article says the country faces a large housing backlog, with major urban areas such as Harare and Bulawayo accounting for most of the shortfall. It also notes that the property market has relied heavily on cash transactions because long-term financing has been scarce.

Sharpe said the bank, described as West Cap Mortgage and linked to the Victoria Falls International Financial Centre, is being positioned to raise a US$1 billion fund. He said the goal is to provide mortgages with long repayment periods, including 10-, 20- and 30-year loans, not only for WestProp projects but across the broader market.

The initiative matters because, if it proceeds as planned, it could expand access to mortgage credit in a country where many homes reportedly lack financing. More broadly, the move reflects a wider effort in Zimbabwe’s property sector to attract patient capital and support housing development.