Chinamasa urges Zimbabweans to change their mindsets, a person with 20 goats cannot say he is poor

The issue you raise about title deeds is a matter that we are also worrying about.  It is amazing how wealthy our people are.  In fact, we have a company from the United States which was interested in mortgage lending.  They were saying, it looks like all the houses, cars and furniture that you own are for cash, there is no mortgage.  There must be an opportunity to leverage those assets to create more wealth.  That we are not doing and that we must do.  So, we must and we are going to look at why people do have houses and not have title deeds.  We are going to interrogate that so that we can see where we can play a facilitative role for people to have title deeds.  Once we have got title deeds, we can leverage almost ten times the value of those assets and that is what will create more wealth for this country.

Hon. Sen. Makore, I think I have already answered you when you asked what happens when a sheep, goat or cow used as collateral dies.  Clearly, it is a matter that I think should be handled through insurance in my view.

Hon. Sen. Ndhlovu, thank you very much for supporting the Bill.  With respect, you raised an issue about title deeds – I have already mentioned. If you go to any town today and I always give the example of a town in my constituency Rusape, there is massive expansion in residential housing.  All those stands have no title deeds – [AN HON. SENATOR:  Ah.] – Yes, there are no title deeds; it is just an agreement of sale from the local authority and they are given conditions that you must put some permanent structure within a given timeframe.  That is all, there are no title deeds.  What I think is important is to convert those assets to create more wealth, to leverage them as collateral.  That is something that we are looking at to see how this can be done or where we can play a facilitative role.

Hon. Sen. Machingaifa, thank you very much for supporting the Bill.  I thank you and especially that this Bill will certainly help the poor.  I do not want to call them the poor because if they have got assets they are not poor.  This is a term we use very loosely.  If you have got 15 goats, how can we say we are poor?  We know the goats give calves almost twice a year and sometimes they can produce twins or triplets.  How can you be called poor?  I get your point.  Clearly, it is supporting that class of people whom all along were marginalised.  We are trying to lift them from that situation.

Hon. Sen. Chief Ngungubane, thank you very much for supporting this Bill and I take the point that hopefully with the coming of this Bill and this law, it will do away with loan sharks.  However, you cannot always prevent it, it is always very difficult.  Sometimes people do not want the hassle of filling any forms, going to the registry and they always try to choose the easy way.  The easy way generally is to the loan sharks.  Nothing is written down but the loan shark just enforces through his muscle.  I am sure we are all aware of that.  Generally, people end up being exploited in the process.

Hon. Sen. Chimanikire, thank you for supporting the Bill.  I want to conclude Madam President by saying the major focus of this Bill is to change the mindset of our people so that they accept that they have got assets and that they treat those assets in a business-like manner so as to create more wealth for the country.  With that response, I now move that the Bill be now read for a second time.  I thank you.

Motion put and agreed to.

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