NBS to partner Masvingo councils to clear housing backlog



MASVINGO -The National Building Society (NBS) is seeking to clear a 15 000 housing backlog in Masvingo Province by 2025 through partnering with local authorities and providing affordable housing to home seekers.

NBS Retail Executive Linda Gurajena told journalists and stakeholders that NBS has already signed three Memorandum of Understanding (MOU) with different partners for the project.

She said this during a cocktail organized by her organisation at a local lodge in Masvingo yesterday. Gurajena said NBS 2023 strategic plan is to engage local authorities for land development projects which are in reach of home seekers.

“We have MOUs with about three partners in Masvingo in terms of land acquisition which means we mean serious business with regards to housing provision. If we have 15 000 customers that already have stands, as NBS, we have a product that is readily available that allows people to build in a piecemeal  approach. If one opens an account, he or she will be able to access our micro mortgages,” said Gurajena. 

NBS Managing Director Tapera Mushoriwa said as a bank, their interest is to make sure that corporate entities are thriving. He added that some of their services include provision of mortgages to individuals, employment skills and banking services to businesses. 

Gurajena also said that NBS is ready to provide mortgage finances to home seekers who would have opened accounts with them to enable quick completion of the projects.

 “We want to engage and seek partnerships with the local authorities in Masvingo Province since they are the custodians of the land so that we are able to access land at intrinsic value and develop the stands through partnership. That way the stands will not be expensive. 

“The stands will be sold to potential buyers on the waiting list and that way we will be able to clear the backlog of the 15 000 houses. 

“Once we partner councils we will be able to provide mortgage finances or do the whole project of building houses such that the 15 000 houses backlog could be something we can deliver before 2025,” she added. 

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