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"for the refinancing of loans that public service employees have with other financial institutions"

ZNBS Managing Director Mr. Joseph Chikolwa (l) and PSMD Director Technical Services Mrs. Margaret Kapihya (r) exchange copies of the MOA during the launch of the Public Service Employees Loan Refinancing Scheme as ZCTU SG Mr. Cosmas Mukuka (m) looks on.

The Zambia National Building Society has signed a memorandum of agreement with the Government of the Republic of Zambia through the Public Service Management Division PSMD for the refinancing of public service employees loan facilities they have have with other financial institutins.

Speaking during the launch of the loan refinancing scheme at the Taj Pamodzi Hotel, ZNBS Managing Director Mr. Joseph Chikolwa said public service employees play an important role in nurturing and developing the country.

Mr. Chikolwa added that about 40 million kwacha has been set aside for the scheme to be disbursed in the initial stages.


"Public service employees play an important role in nurturing and developing the country. It is only fair that those who serve the country can be afforded the opportunity to access affordable credit facilities in form of personal loans and/or mortgages...The financing offered under this moa will lower the cost of interest for public service employees that have borrowed at high interest rates and result in a higher take home pay.

About 40 million kwacha has been set aside for the scheme to be disbursed in the initial stages.

We envisage that many public service employees will benefit from this agreement in view of the competitive interest rates and the tenure of the loan facilities." click to download full speech.

Speaking at the same event Zambia Congress of Trade Unions Secretary General Cosmas Mukuka said the refinancing agreement will motivate the public workforce by improving their take home pay and reducing their debt burden. He called on ZNBS to ensure that the scheme benefits all public service employees especially those in the rural areas.

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Government to start land titling exercise, ZNBS to position itself in affordable housing – Acting President

Her Excellency the Acting President says government has created a new ministry of housing and infrastructure to meet the housing deficit currently being experienced in the country.

Mrs. Inonge Mutukwa Wina also says that government is undertaking a titling exercise to ensure every piece of land in Zambia is on title, and will result into many Zambians having security and access to loan facilities. She said this when the Zambia national building society (ZNBS) Managing Director Mr. Joseph Chikolwa paid a courtesy call on her.

She has challenged ZNBS to restructure its strategy for the informal sector especially women to enable them access mortgages.

The acting president said the housing portfolio in the country does not match with the aspirations of the Zambian people adding that ZNBS has a huge responsibility in the next five years to provide affordable housing.

She said ZNBS should document the challenges women and those in the informal sector face in order to help in policy formulation.

Mrs Wina has also congratulated ZNBS on the various initiatives including the women's mortgage promotion and looks forward to seeing the society position itself as one of the key front runners in the area of providing affordable housing.

And ZNBS Managing Director Mr. Joseph Chikolwa indicated that the informal sector was a matter of concern which is being seriously studied. The ZNBS chief executive added that his institution is partnering with the private sector in the development of housing units.

He said the society has engaged all the district councils through the ministry of local government and has so far acquired land in Nyimba, Chilanga and Chikankata where title will soon be availed to the society.

In the partnership with the private sector houses will be constructed targeting ordinary Zambians.

Mr. Chikolwa said this will help lower the cost of the housing units for ordinary Zambians to buy.

Mr. Chikolwa who was accompanied by Chairperson of the Staff and Remuneration Committee of the board Mrs. Monde Wood, Director Mortgages Mrs. Martha Kangwa, Senior Marketing officer Pumulo Amutike and Public Relations Officer Chanda Mubanga congratulated Mrs. Wina for being elected as Republican Vice President.

Meanwhile ZNBS Director Mortgages Mrs. Martha Kangwa revealed that out of 158 women that applied for the mortgages during the 2015 women's mortgage promotion, 19 million kwacha was paid out to about 100 women.

Mrs. Kangwa said the 58 women either did not have title for their land or could not provide verifiable income or any form of security documents.

ZNBS Managing Director Elected to AUHF Board

Zambia National Building Society (ZNBS) Managing Director Mr. Joseph Mwansa Chikolwa has been elected to the Board of the African Union for Housing Finance (AUHF).

This was announced at the recently held 32nd AUHF Annual General Meeting (AGM), which took place in Abuja, Nigeria.

Mr. Chikolwa is the first Zambian to be elected to the Board of Directors of the Pan African body whose main objective is bent on supporting its members to realise their vision for an enabled and productive housing finance sector across Africa.

The AUHF was established as a member-based body of housing lenders in 1984. The organisation currently comprises 50 members from banks, building societies, micro-finance institutions, housing development corporations, developers and other institutions involved in the mobilisation of funds for shelter and housing from 17 different countries in Africa.

Visit for more information about the African Union for Housing Finance


The ZNBS Team with some of the kids at the Expo

The 2016 Kids an d Baby Expo at the East Park Mall in Lusaka captured some of the most exciting talents kids have hidden in those innocent personalities. It was a marvel to see babies take to the stage in satisfying some of their wishes of cat-walking before large crowds.

However, we do not forget one of the very important things about this stage of these great beings. This is the formative period for children said to be between 1-8 years.

The period is said to be the best window of opportunity that we must seize to plant beautiful memories and intellectual ability.

The Baby Wallet Account targets this segment of the Zambian population which has remained financially excluded. We aim to raise financial awareness levels among the children by getting them actively involved through very interactive approaches.

During the exhibition at the Kids and Baby Expo, the response from kids themselves was overwhelming so much that every member of the team became a sales person in order to meet the demand.

What was more important is that every child dressed in the Orange T-Shirt opened an account and the that literary dressed about 70% of the kids at the expo.


The Zambia National Building Society team at the 2016 International Labour Day march past at independence avenue in Lusaka.

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