NBS to build 700 houses in Chinhoyi

HARARE - The National Building Society (NBS) is set to construct 700 houses in Chinhoyi as part of the organisation’s thrust to reduce the country’s over 1,25 million housing backlog.

NBS managing director Ken Chitando said construction equipment was on its way to Chinhoyi to kick-start the housing project in Batanai Township.

“We have come together in unison, in partnership and as a community to deflate the ballooning housing backlog and to grab the opportunity of owning an affordable house even in adverse economic conditions,” he said.

Chitando urged the government to facilitate the development of housing schemes across the country in line with the National Housing Policy. 

“It is my clarion call today that all bottlenecks in the housing delivery process should be removed forthwith and allow all people to have access to affordable and decent housing,” he added.

This comes as the majority of Zimbabweans have been struggling to have access to housing and land due to red-tape and corruption in the sector. 

Public Service minister Priscah Mupfumira applauded NBS for striving to provide affordable housing to the majority of low-income earning Zimbabweans.

“This also spells business opportunities for construction, property development, real estate and building supplies businesses in the region,” she said.

Mupfumira said government was confident that NBS will help fill a void that the banking sector has been struggling to meet in terms of affordable long term financing in the mortgage sector.

“As everyone is aware, the country is in the midst of a liquidity shortage, which has been attributed to a number of factors, among them the fact the billions of dollars are circulating in the informal sector.

“As government, we are hopeful that NBS can add much needed impetus to efforts that will ensure that liquidity is brought into formal channels,” she added.

Meanwhile, NBS has launched new branch in Chinhoyi as part of its expansion programme, which has seen the building society opening new branches in the past few months in Harare, Bindura and Bulawayo among other areas.

“For us, the journey continues as we work to also get direct service centres through the implementation of branches in areas like Gweru, Masvingo and Mutare before the end of the year,” Chitando said.

This was after NBS had introduced a transactor — a suite of cutting edge electronic banking platforms that will also enable customers to access the building society’s services from anywhere using digital devices like smart phones and laptops.

Chitando indicated that the new product comes with mobile banking, Internet banking, SMS banking as well as retail point-of-sale machines that will enable card based transactions.

“We are also running a promotion where NBS customers stand a chance to win a house by maintaining a minimum deposit of $200 per month over the promotion period.

“This is a very good opportunity for customers to start building a savings record that can also be used in the future for determining one’s capacity to repay a mortgage loan,” he added.

Comments (1)

Zimbank some years ago had a similar deal whereby if you had money in your account your name went into a lottery - the lottery was won by Comrade Robert G Mugabe. Zimbank said there was no cheating - nobody believed Zimbank and Mushayakara. How do we know NBS wont give the free house to our dear President, without hair, Robert G Mugabe ?

nelson - 16 April 2017

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