Nyambirai proposes flexible house co-ownership arrangement

Celebrated businessman and lawyer Tawanda Nyambirai has announced what he describes as "the greatest empowerment deal Zimbabwe has ever seen," introducing a groundbreaking housing scheme designed to make homeownership accessible to a broader range of Zimbabweans, including those in the diaspora, local professionals, and the informal sector.

Posting on X (formerly Twitter), Nyambirai said the initiative, spearheaded by TN CyberTech Bank in partnership with Lucile Real Estate, will "revolutionize property ownership" through a flexible co-ownership arrangement.

"We have over 100 houses in Ruwa. They are on title deeds. We are selling them for a cash price of $75,000. But you don't have to buy 100% of the house," Nyambirai wrote. "You can buy 40%, 50%, 60%, 70%, 80%, 90% or 100% of the house on a co-ownership arrangement with the bank."

The co-ownership model allows buyers to purchase a percentage of a property based on what they can afford, while the remaining share is held by the bank. Key features of the scheme include a 10% deposit requirement, an 18% annual interest rate, and immediate occupancy upon payment of the deposit.

"If you are in the diaspora, you can immediately rent the house out. However, you only pay rent for the percentage you are not yet buying," Nyambirai explained. "For example, if you are buying 50% of the house and the rent is $500, you only pay $250 for our 50%. You can use your $250 to reduce your monthly installment."

Once a buyer has completed payments for their chosen percentage, TN CyberTech Bank will facilitate the issuance of title deeds reflecting their ownership share. Buyers will be able to sell, rent out, or use their share as security for loans.

Nyambirai also revealed a special provision allowing buyers to later purchase the bank's remaining share under agreed credit terms and a set price. This, he said, would help both parties "transition to the new currency" recently introduced in Zimbabwe without disputes over exchange rates.

The initiative marks another major milestone in Nyambirai's career as an innovator and entrepreneur. Best known for his TN Holdings Limited business empire and strategic partnership with Econet Wireless Group, Nyambirai has long been recognized for blending financial ingenuity with social impact.

His latest move, analysts say, could set a new precedent in Zimbabwe's property market by offering flexible pathways to homeownership in a country where access to mortgage finance remains a major challenge.