Opinion / Columnist
Zimbabwe's amazing story
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In most parts of the world, ownership of property and vehicles often comes with years of debt, mortgages and bank loans. Yet in Zimbabwe, a unique economic reality has been created, a culture where citizens own their assets outright, making Zimbabweans some of the most debt-free people in the world. Whether it is a modest urban house worth US$40,000 or a luxury property valued at US$500,000, the majority of homeowners have fully paid for their properties without mortgages. The same can be said for cars, most Zimbabweans drive vehicles that are 100 percent owned, free from bank financing or leasing arrangements.
This trend is remarkable, especially when compared with developed countries, where homeowners can spend decades repaying loans. In places like the United States, the United Kingdom, and even South Africa, mortgages typically run for 20 to 30 years, while vehicle financing schemes are considered the norm. Zimbabweans, however, have learned to avoid credit dependency, a lesson shaped by years of economic turbulence, hyperinflation and mistrust in the banking sector. For many, the memory of lost savings in banks remains fresh, driving the determination to purchase assets in cash.
Zimbabwe is a country that struggles with high unemployment, low salaries and a volatile currency, Zimbabweans remain asset-rich. Families often pool resources, relatives in the diaspora send remittances and informal businesses play a crucial role in generating income. The result is that ownership is prioritised above everything else. Once an asset is acquired, it is not tied to any financial institution, giving its owner full security and peace of mind.
Driving through Harare's leafy suburbs or Bindura's growing residential neighbourhoods, one is struck by the sheer scale of modern homes, many built brick by brick without borrowing a single cent. In the rural areas, villagers too proudly own their land and homesteads outright. Cars on the roads, whether luxury SUVs or small second-hand imports belong entirely to their drivers.
Critics may point out that this reflects a weakness in Zimbabwe's financial systems, where banks have failed to provide affordable credit lines for citizens. Yet it also highlights an extraordinary culture of resilience. Zimbabweans have learned to live within their means, accumulate savings outside formal structures and invest directly into assets that secure their future.
In a world drowning in debt, Zimbabweans stand out as a people who truly own what they have. In reality, they are far richer than many who appear wealthier but remain chained to loans.
We are ahead of the game.
Engineer Jacob Kudzayi Mutisi
+263772278161
This trend is remarkable, especially when compared with developed countries, where homeowners can spend decades repaying loans. In places like the United States, the United Kingdom, and even South Africa, mortgages typically run for 20 to 30 years, while vehicle financing schemes are considered the norm. Zimbabweans, however, have learned to avoid credit dependency, a lesson shaped by years of economic turbulence, hyperinflation and mistrust in the banking sector. For many, the memory of lost savings in banks remains fresh, driving the determination to purchase assets in cash.
Zimbabwe is a country that struggles with high unemployment, low salaries and a volatile currency, Zimbabweans remain asset-rich. Families often pool resources, relatives in the diaspora send remittances and informal businesses play a crucial role in generating income. The result is that ownership is prioritised above everything else. Once an asset is acquired, it is not tied to any financial institution, giving its owner full security and peace of mind.
Driving through Harare's leafy suburbs or Bindura's growing residential neighbourhoods, one is struck by the sheer scale of modern homes, many built brick by brick without borrowing a single cent. In the rural areas, villagers too proudly own their land and homesteads outright. Cars on the roads, whether luxury SUVs or small second-hand imports belong entirely to their drivers.
Critics may point out that this reflects a weakness in Zimbabwe's financial systems, where banks have failed to provide affordable credit lines for citizens. Yet it also highlights an extraordinary culture of resilience. Zimbabweans have learned to live within their means, accumulate savings outside formal structures and invest directly into assets that secure their future.
In a world drowning in debt, Zimbabweans stand out as a people who truly own what they have. In reality, they are far richer than many who appear wealthier but remain chained to loans.
We are ahead of the game.
Engineer Jacob Kudzayi Mutisi
+263772278161
Source - Engineer Jacob Kudzayi Mutisi
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