NBS to partner councils on housing development
THE National Building Society Limited (NBS) is seeking to partner with local authorities countrywide on housing projects in an effort to deliver low-cost houses to the citizens.
The bank says it has the funding and expects local authorities to avail land as a contribution towards reducing the national housing backlog, which hovers around 1,5 million.
This is in line with the Government’s drive to ensure provision of affordable and modern housing for all with the hope of having cleared the backlog by 2030.
The National Social Security Authority (Nssa)-owned bank has committed to contributing to the National Development Strategy 1 (NDS1), which forms part of its mandate to provide affordable low-cost housing delivered promptly and profitably in Zimbabwe.
Speaking at a road authorities’ workshop organised by the Zimbabwe National Road Administration (Zinara), which opened here yesterday, NBS head of marketing, Miss Mildret Kujinga, said the financial institution was offering affordable interest rates, which are below 25 percent for corporate housing schemes.
She said the bank has lined up solutions, particularly in the housing delivery in 2022, to make sure ordinary Zimbabweans including low earners and informal traders own a house through cheaper mortgages.
“We are glad to be pushing a proposal, which has been well received by councils wherein we are forming partnerships and synergies that are going to be fostered to give Zimbabweans cheaper affordable houses,” she said.
“We are looking to partner with councils because they have the land and, as the bank, we bridge the gap of having individuals having to look for expensive land,” said Miss Kujinga.
She said NBS has done a tremendous job in its mandate to deliver houses and has since inception done over 1 000 finished units, excluding about 500 that will be availed before end of year in Dzivarasekwa where a project is ongoing.
Miss Kujinga said a number of projects were underway countrywide like Woodbroke in Bindura, Magakooshla in Shurugwi, NBS Park, and Mutare among others. Where the council has land banks, NBS can partner through availing finance to council employees for purchase of the stands and construction of habitable structures.
Individuals can also benefit from council club and micro-housing plans products. Miss Kujinga said the bank wants to make sure employees and citizens have roofs over their heads while those in the diaspora are targeted through deluxe mortgages.
“We also have plans to engage peri-urban areas as we want to provide houses and infrastructure development such as warehouses in new towns. We are also targeting the informal sector through micro mortgages,” she said.
“We have done an analysis on the way they do their business and their day-to-day jobs and we feel like the micro-mortgages will enable any informal entrepreneur to own a home one day and we do it by adopting a brick-by-brick model with an SME banking with NBS,” she said.
Building loans of US$20 000 will be availed to SMEs to develop or buy building material.
“There is no one size fits all, we can be everyone’s cup of coffee as it’s our mandate to say we want to be for everyone.
We are happy to sell out our programmes to city fathers because we have the funding and they have the land.
“As we get into 2022 the country must expect disruptive solutions especially on housing delivery for the marginalised and rural areas coming from NBS as we have a very big plan in terms of the rural development. It’s going to be an exciting 2022 for NBS.”
The bank is also pursuing a solar project as it fosters a green economy by partnering solar energy companies and targeting solar-powered projects. – The Chronicle
