CONSTRUCTION of National Building Society’s (NBS) Sunset Villas’ 120 cluster housing project in Tynwald South Harare which is valued at over US$6 million will commence in June.

NBS Head of Marketing, Mildret Kujinga said the project housed on 5,99 hectares in a gated community was an integral part of the Society’s housing delivery strategy and fulfilment of its mandate, in line with National Development Strategy 1 (NDS1).

“Sustained investment in the provision of affordable housing, both promptly and profitably, is the cornerstone of the NBS strategic vision.  This project demonstrates our ongoing commitment to increasing the supply of quality homes to the nation’s citizens,” she said.

After completion, Sunset Villas will have two- and three-bedroom units.  Construction will be done in two phases with the first phase delivering 40 units.  The whole project is expected to be completed by the end of 2022. 

Commenting on the joint venture between NBS and Naldline Trading Private Limited, which has been a catalyst for this project, Kujinga said: “The Society’s success within the housing space has been cemented through concerted efforts from all stakeholders, particularly Public-Private Partnerships (PPPs).”

“Collaborations in projects such as these have enhanced our capabilities and innovation for the ultimate benefit of prospective homeowners.  PPs speak to improved operational efficiencies in the provision of public services which is crucial in the delivery of the NBS affordable housing mandate,” she said

Through the Sunset Villas development, NBS is also pursuing its broad plan for greater innovation in housing.  Thus, the choice of construction methods will ensure water efficiency and reduction of waste.  In addition, the clusters will support modern living, through the design of the units and the provision of family-friendly amenities and spaces.

The completion of the Sunset Villas project will add a meaningful number of new units to the national housing stock, with continued contribution towards the Government’s efforts to reduce the housing backlog.  Sunset Villas is one of many housing projects that have been undertaken by the NBS since its inception six years ago.

“Our focus remains on providing affordable housing finance solutions to the country’s citizens.  We remain steadfast in utilising resources at our disposal, including financial expertise and PPP arrangements, to deliver affordable and sustainable housing projects that meet the needs of Zimbabwean home seekers.  Housing can contribute substantially to economic development and NBS stands ready to do right by the nation,” said Kujinga.

The National Building Society (NBS) recognizes the importance of sustainable and responsible business practices that benefit the communities in which we operate.  As a one-stop-shop financial powerhouse, the wide array of products and services offered are structured to provide value to our immediate clients and to society at large.  More specifically, brick by brick, we are determined to reach the pinnacle of home financing in the country, while having a positive impact on Zimbabweans. NBS will continue to leverage on its mortgage loan offering to improve lives of fellow citizens, and its standing in the local market for mortgage loans.  We recognise that homeownership plays a vital role in helping to build strong, stable communities. Our doors are open to serve you and deliver roofs over your heads

NATIONAL Building Society is rolling out a number of ground-breaking projects across Zimbabwe as it continues to deliver on its housing delivery mandate in line with National Development Strategy 1 (NDS1). 

The housing projects are spread across the country, and have begun selling.

NBS Head of Marketing, Mildret Kujinga, said the housing projects dovetails with the building society’s futuristic model of providing housing at different levels for everyone residing in Zimbabwe.

“NBS is driven by its vision to avail affordable housing promptly and profitably in the country.  With this in mind, the sustainability approach we have adopted for our projects seeks to develop resource-efficient in the building cycle. It is about meeting current needs by delivering the future of housing today,” she said.

Kujinga cited the Ramangwana / Elakusasa Mortgage as a pioneering initiative of the Society’s mission to make the dream of decent housing a reality.

She said research had revealed that there was increased desire for many Zimbabweans opting for retirement away from urban areas.  Thus, the imminent rollout of this project is set to transform segments of rural areas into fully fledged economic hubs by 2025.  The Ramangwana / Elakusasa Mortgage has been developed to provide affordable home solutions in Zimbabwe’s peri-urban and rural areas. 

“Another NBS project that is aligned to key housing trends is Sunset Villas.  The Society is facilitating the construction of 120 cluster houses in Tynwald in a gated community which will be completed later in 2022.  Affordability has been pivotal in the delivery of this development, with construction methods ensuring water efficiency and reduction of waste.  Sunset Villas also supports modern living, through the design of the units and the provision of family-friendly amenities and spaces,” Kujinga said.

The Society also prides itself on the adoption of eco-friendly features in its projects. Knockmalloch in Norton is ongoing and on completion, it will be a flagship development in this regard with the installation of solar energy solutions and a biodigester for the septic system.  Amongst other benefits, Knockmalloch will minimize the strain on electricity and sewer infrastructure while reducing utility bills for homeowners.

Going forward, NBS is set to roll out these and other projects, where the future of housing will continue to be shaped.  The delivery of incremental innovations in the housing space will be continual by the Society, given that people will continually change the requirements for their homes, according to their lifestyles. 

NBS said it was committed to thinking ahead as it participates in the building of houses and communities in this country. 

“What NBS will continue to do is to be on the forefront of transforming the housing space, inspired by the need for homes that meet ultra-modern requirements. Therefore, ours is to build the future today and so enhance the quality of life for fellow Zimbabweans”, Kujinga said.  

The crucial role that women play in modern society cannot be denied as powerful women play their part in the home, in the workforce and in the world, in an impactful and efficient manner.  In recognition of this, NBS offers women the golden opportunity to become homeowners.  This has caused great interest and excitement in the market in terms of housing delivery.  Furthermore, it is in line with the Society’s endeavour to break the bias around property ownership and rights to become the bank of choice for the women of Zimbabwe. 

We took a minute to talk to Miss Mildret Kujinga – Head of Marketing at the National Building Society (NBS) to discuss the exciting initiatives that the bank has this International Women’s Month around fostering empowerment and breaking the bias.

Q. Tell us about NBS’ Support for international Women’s Month 2022?

A. The National Building Society (NBS) believes in empowering the communities in which we operate.  As we celebrate women in the month of March we are saying ‘first for women’. NBS has put a disruptive strategy in place to reach out to women at different levels.  Based on our cultural belief that the woman makes the home “musha mukadzi”, NBS has taken the deliberate move to prioritise the women of Zimbabwe and extend mortgages and business financing on favourable terms in their honour. 

 Q. Can you share more on your exciting mortgages offer to ladies this Women’s Month?

A. As the leading provider of affordable home financing and a significant player in the housing delivery space, we want to empower the women of the country and help them to become homeowners.  There is no better way to celebrate women, this March and beyond.  This speaks to contributing to an end of women being marginalised in property ownership and property rights issues.  Moreover, it is about breaking the bias which is the theme of the 2022 International Women’s Day.

Q. You mentioned SMEs, please give us details on NBS’ attractive offer for women in business?

A. Research has shown that a lot of the SMEs in Zimbabwe are run by women.  Unfortunately, women are only venturing into small projects, such as selling vegetables and clothes.  NBS wants to change that narrative.  We believe that women are willing and able to start and operate construction and engineering companies or any other business that oversees major projects.  Thus, we are providing women with financial services opportunities to run well-established businesses that realise their full potential.

Q. How can Zimbabwean women take advantage of these empowering housing and business financing solutions from NBS?

A. Our Samora Machel Avenue branch has been set up as a financial inclusion and innovation hub.  This means that women from all walks of life can receive tailor made mortgages and business banking products and services.  By banking with NBS, getting a house is possible.  We have a variety of home financing offerings, such as the micro-mortgage and building finance.  Over and above this, we provide SME Silver, SME Gold and SME Platinum Accounts that can facilitate the growth of an income generating project into a big business. 

Q. In conclusion what is your message to Zimbabwean women this International Women’s Month?

A.NBS is committed to empowering our clients and the nation at large.  Thus, we are calling upon all Zimbabweans, especially the lovely women of this nation to become of a transformational and life changing journey.  Together we can build communities!

Happy International Women’s Month Zimbabwe!

THE NATIONAL Building Society (NBS) has announced two new partnerships with money transfer service providers ‘Shumba Money’ and ‘Mama Money’, as it continues to expand its portfolio of international remittance partners.

In a quest to serve Zimbabweans scattered across the globe and coming in to close the gap as the most convenient partner for foreign currency cash pick up, even in the last mile, NBS is strengthening its remittance footprint and synergies.

The new partnerships – which broaden NBS’ global coverage – are expected to provide more convenience to Zimbabweans in the diaspora as the Society has a natural mandate to bring those in the diaspora closer to home through its diverse housing delivery offering.

NBS has rolled-out remittances services in every branch and agency associated with the Society, ushering benefits beyond convenience.  A lot of innovative products can be enjoyed by both remitters and receivers, with an aim of preserving value for the hard-earned foreign currency, which is sure to meaningfully compliment the hard work of Zimbabweans living in the diaspora.

The bank has successful partnerships with WorldRemit, Small World and Senditoo, including new additions Shumba Money and Mama Money.

NBS head of marketing, Ms Mildret Kujinga, said the expansion of its remittances facilities ties in with its diaspora mortgages business; there is need to ensure that beneficiaries have the most secure touchpoints for service, especially senior citizens who have children in diaspora and who concurrently receive their pension pay-outs through the Society.

“According to official figures, diaspora remittances to Zimbabwe rose 43 percent last year to US$1,43 billion, from US$1 billion in 2020. In this regard, we are pleased to play our part by growing our remittance network and partnering leading international remittance companies.

“NBS is geared towards the creation of a one-stop-shop and financial powerhouse as it provides Zimbabweans abroad a facility to receive forex. We have seen a significant amount of the forex going towards servicing housing related loans,” said Ms Kujinga.

At a broader level, NBS is tying its expanding remittances network to its mission of ensuring housing delivery in the country.

Beyond providing affordable housing schemes, the building society also offers deluxe housing schemes for niche clients locally and also for Zimbabweans living in the diaspora.

The bank has also partnered a number of companies in the construction value chain that any mortgages client can tap into to enjoy affordable rates.

She added:

“We recently added Mama Money and Shumba Money, both of which have huge traffic and will help meet the demand for our trusted cash pick-up services.  We are working to bring more partners soon as we ensure diverse remittances choices for our clients.

“And for even more convenience for local remitters, we have a local instant cash transfer service – NBS Instant Cash – that has been exceptionally received within Zimbabwe and through which we serve significant numbers daily as they send or receive foreign currency, at a rate of just 3 percent,” added Ms Kujinga.

With the resolution of the issues that caused delays around the full implementation of the NBS Dzivarasekwa Housing Project, a celebratory ceremony was held onsite on 7 October 2021.

The Minister of Public Service, Labour and Social Welfare, Honourable Professor Paul Mavima was the Guest of Honour at the ceremony which was attended by numerous dignitaries and esteemed guests. 

The ceremony was held to assure all stakeholders of NBS’ commitment towards the completion of the housing project.  Commitment is a core value of the Society’s.  Thus, despite the challenges previously faced, the Society took the decision to proceed with the project, to maintain a firm presence onsite and to adopt a more hands-on approach.  The drive is the completion of the Dzivarasekwa housing project as initially envisaged. 

The Chairman of the NBS Board of Directors, Mr. Shingai Mutumbwa, gave his remarks at the ceremony.  He indicated that in the final phase, three different and new contractors had been engaged with the aim of shortening the delivery period which is anticipated to be in December 2021.

Mr. Mutumbwa also took the opportunity to thank NBS customers who had remained patient throughout the period of inactivity. On completion, the massive housing project will deliver 500 low-cost units, with different models, ranging from 1 roomed to 4 roomed houses.  Each will sit on a stand size averaging 200 square metres.

It seems exciting developments are happening at the National Building Society.  Today the Society opened doors to Zimbabwean SMEs, inviting all registered SMEs and entrepreneurs to open an account within their SME Suite which essentially has 3 account classes: silver, gold and platinum.  Speaking at the official launch, the NBS Head of Marketing Miss Mildret Kujinga said that NBS is in pursuit of building communities and the Society is set to prioritise SMEs on housing delivery projects.  She went on to say that they have bespoke mortgages products that will enable a good number of Zimbabwean entrepreneurs to secure homes with NBS as long as they log in their innovation with the NBS Suite and also embark on traceable business banking with the Society.

The launch event was graced by selected SME representatives who testified on how their businesses operating efficiencies had been improved by the facilities they get from NBS.  In pursuit of establishing empowered communities, NBS has rolled out digital platforms which will aggregate as a digital marketplace where sellers and off-takers can interact as well as exchange payments, all happening on the NBS banking ecosystem. Miss Kujinga went on to say,

“Finally, it seems the giant is awakening as the Society is signing up new high value clients and lots of corporate clients are now banking and investing with NBS”.

The Society has ramped up its digital offering which is key to creating business banking operating efficiencies designed to meet the diverse need of SMEs.  The launch event was covered by prominent media houses and top journalists who were keen to unpack the Society’s transformative story.  Recently NBS published its Half Year Financials which revealed a firm balance sheet.  It only makes sense and finally NBS seems to be becoming a household name in the banking sector.  Indeed the SwitchToNBS campaign has domineered the social media space.

Ivan Zhakata

Business Correspondent

In a life transforming arrangement for retirees, National Building Society (NBS) – a subsidiary of National Social Security Authority (NSSA) – has created a tailor-made loan facility for pensioners.

Under the scheme the pensioners will receive loans amounting to $100 000 to fund income-generating projects.

NBS acting managing director Mr Alfred Chaavure, confirmed the development in an interview yesterday. “This is a loan facility designed for individuals who receive their NSSA payouts whether as pensioners or beneficiaries through an NBS bank account,” he said.

“We understand that the demands of employment, family and life in general force many of us to put aside our dreams. However, the end of an active working life is an exciting time when various opportunities can be pursued such as starting your own business.

“NBS was compelled to facilitate pensioners’ personal loans to contribute in some way to making the dream of business ownership a reality for retirees.  These loans are substantial in amount, up to 10 times one’s gross monthly payout can be given to a maximum of $100 000.”

Mr Chaavure said it was their belief that the loans can fund income generating projects such as poultry, horticulture and carpentry among other businesses.