FOR 17 years now, the Homelink group’s business has revolved around contributing positively to Zimbabwe’s economic development. Founded with a mandate of serving the diaspora market, the institution has evolved into a strong financial institution serving both the diaspora and local markets with property development, remittances, bureau de change and micro-finance solutions.
Remittances
Having been in the remittance space for 11 years, Homelink Private Limited, continues to provide a safe, efficient and reliable connection between Zimbabweans at home and abroad.
The money transfer division does not only provide a seamless platform allowing people to send and receive money across the globe; it also facilitates local transfers. Despite the COVID-19-induced lockdown and growing competition in the remittance space, Homelink Private Limited managed to pay out US$45 million dollars as at the 15th of May 2021.
“We remain a key player in connecting the diaspora and their loved ones. A remittance goes beyond a financial transaction, it is love, health, education and so much more. On the local front, Homelink is also actively involved in sending money between the cities. The transaction is instant, affordable and done in a safe environment,” Homelink Managing Director Dr. Tawanda Matembo says.
Forex sales
Homelink is a composite financial group that offers more than remittance services. Homelink’s bureau de change has recently started offering foreign currency services to individuals and Small Scale Enterprise clients.
“Another exciting development has been the introduction of foreign currency sales through our Bureau de Change. Our clientele has welcomed this noble move by the Reserve Bank of Zimbabwe allowing individuals and Small Scale Enterprises to access forex at the official rate,” Dr. Matembo adds.
“There has been an overwhelming response to the offer, with customers coming through with medical bills, educational invoices and travel documents, just to mention a few. To date, 70% of the money we have allocated has gone towards inventory, spares and machinery. This is a reflection of the need that is within the Small Scale Enterprise productive sector, whilst 15.49% has been for educational requirements.”
The foreign currency service is available at Homelink’s six major branches in Harare, Gweru, Bulawayo and Mutare. All one needs are authentic international invoices and an ID. The process is very efficient, with most requests processed instantly.
Salary-based loans
Homelink’s micro-finance division also offers salary-based consumer loans to civil service and private sector employees at very affordable rates.
We are well on our way to building a very strong digital client experience to ensure a seamless experience for our customers when applying for a loan. The system will allow our clients to apply online for their loans and upload all requirements from any part of the world. Approvals and disbursements will be done online.
Property development
Homelink’s main area of expertise is property development, with a specific mandate to provide Zimbabweans with accommodation across the country at reasonable costs and in support of the Government’s target of attaining upper-middle-income status by 2030.
Homelink will soon bring, to the market, the Adylin Cluster development in Marlborough, Harare. The units are 98% complete and will be on the market by June 2021. The Adylin units are on stand sizes that vary from 547sqm to 809sqm. They consist of 3 bedrooms, main bedroom ensuite, an open plan kitchen, a lounge and dining room.
“We have a concrete rollout plan in place for the next three years that will see us developing our land in different areas. This year alone, we managed to secure 45 hectares of land in Chinhoyi for further development. This adds to the vast land bank estimated at 400ha that we have as an institution. We will be updating our customers of major developments as we go,” says Dr. Matembo.