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ZNBS IN USD $15 MILLION LOAN BOOST

Posted by Online Editor on Fri 9 August, 2019

THE Zambia National Building Society (ZNBS) has received USD $15 million out of the approved USD $25 million loan from the African Development Bank (AfDB).

ZNBS Public Relations Officer Chanda Mubanga said the loan will help to consolidate the growth of a strong affordable housing sector within Zambia

He said the USD $15 was currently sitting in the ZNBS bank account and would soon be pumped into mortgages stating that the society has the capacity to finance any form of construction project.

Mubanga said the loan would also consolidate government's efforts in developing self sustaining long term affordable mortgage market in the country.

He further said the loan would help ZNBS to expand Zamvia's housing finance sector and encourage orderly urban development for the provision of basic utilities such as water, sanitation, water and electricity.

 


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