…as it joins fight to reduce housing backlog
MIDWEEK REPORTER
MASVINGO-Fast growing State owned, National Building Society (nbs) has set its eyes in helping to clear Masvingo Province’s housing backlog with Masvingo City alone accounting for 15 000 people on the housing waiting list.
They intend to do this by partnering with all the nine local authorities in the Province who are the custodians of the land in both urban and rural areas and introducing novel banking packages tailor made for the clients.
This was said by the nbs managing director, Tapera Mushoriwa who was accompanied by his team, at an interactive business cocktail held at the upmarket, Urban Lifestyle Guest House in the leafy suburb of Rhodene on Thursday evening last week.
The initiative by nbs has seen the team moving around the country’s provinces and Mushoriwa said Masvingo will not be left behind as it is set be transformed into a green zone (their corporate colours).
“We are changing the banking landscape in the country as we are not only providing housing loans but other products that are tailor made to suit the customer’s requirements including the informal traders who are usually left behind.
“We are saying open an account and start transacting and three months down the line we can sit down with you and offer you what is best for you on affordable terms, whether you have supplied OK Supermarket or any other business, we can pay you and then you continue doing what you know best then we recover the money on your behalf after the agreed period,” said Mushoriwa.
Business executives at the cocktail welcomed the move by nbs to ensure that the unbanked are banked in style with innovative products.
“What more can you ask for than to have your customers and employees having a roof over themselves. It is also exciting that our vendors who supply us with material for recycling will have bank accounts as this will teach them to budget their incomes.
“We will also be depositing their money from their sales into their bank accounts for accountability purpose and that also goes a long way in reducing pilferage at companies as noone will be paid cash directly,” said prominent Masvingo businessman who runs Stable Plastics.
CFX Group entertainment industry guru, Garikai Garande also expressed gratitude at nbs and said this will help in accounting for their sales as customers will be using electronic money to transact as opposed to cash which sometimes attract unruly elements of society after hours.
Retail executive for nbs, Linda Gurajena in her address during the cocktail said they have already signed three Memorandum of Understanding (MOU) with different partners for the housing project.
“We have MOUs with about three partners in Masvingo in terms of land acquisition which means as we move towards provision of housing in Masvingo. If we get 15 000 customers that already have stands, as nbs, we have a product that is readily available that allows people to build in phases. If one opens an account, he or she will be able to access our micro mortgages,” said Gurajena.
The move by nbs will assist the country in its quest to be a middle income economy by 2030 as shelter is one of the key results areas said an economist who preferred anonymity for professional reasons as she works for another State owned financial institution.
The nbs program which has seen the MD and his team spending four days in Masvingo is themed, ‘Bank, Build and Go Beyond’ which seeks to transform the banking industry through banking unusual.
This encompasses the concept of understanding the customer’s needs and tailor make their requirements to come up with a win-win situation.
Zimbabwe Union of Journalists president, George Maponga applauded nbs for the initiative and said as a union they will take up the offer and encourage their members to open accounts as they will negotiate with the bank for affordable repayment rates so that their members can also benefit by getting loans and housing mortgages.
“Having a roof over one’s head is a basic human right just like food, so as leadership we are going to approach the bank for favourable rates for our members to get houses and afffordable loans,” said Maponga.
Media Institute for Sothern Africa (MISA) regional chairman, Golden Maunganidze also reiterated the same sentiments and urged ZUJ to grab the opportunity and quickly take advantage of the presents of nbs’ top leadership to start the ball rolling so that journalists can have houses in Masvingo.
Business executives who attended the interactive cocktail included, Ephraim Museva of Byword Motors, Learnmore Chidimu of Masvingo Brick and Tiles, Rodrick Shumbanhete of Great Zimbabwe Realtors, Cleophas Zvinavashe from N. Richards Group and Engineer Anywere Dingembira from Masimba Group who is heading the rehabilitation of Beirtbridge Harare Highway among others.
Chairman for nbs board, Shingai Mutumbura, board committee chair on housing, finance and strategy, head structured and corporate finance, Clifford Mtemeri, Dumisani Chihoto among others were also part of the team that visited Masvingo.
