Minister of Finance Dr. Bwalya Ndandu (2nd from right) in the company of Zambia National Building Society (ZNBS) Board Chairman Dr. David Nama, Former BoZ Governor and ZNBS Board member
Dr. Michael Gondwe and ZNBS Managing Director Mr. Joseph Chikolwa unveiling the new Corporate Strategic Plan (CSP) for the period 2019 to 2023. Unveiling the strategic plan Dr. Ngandu government is pleased to note that ZNBS has continued to register growth evidenced by the declaration of dividend to the shareholder. The ZNBS also presented a cheque of K1,500,000.00 to the Minister of Finance as third dividend for the financial year 2018-2019.
ZNBS has been awarded 1st Prize in Banking Exhibit category at the 2019 Zambia International Trade Fair (ZITF) in Ndola.
This years trade fair was running under the theme "Inclusive Growth Through Entrepreneurship". The Society also bugged second Prize in Non-Bank Financial institutions category.
Targets to empower 180 families through affordable mortgage finance. Physical places endure while memories and people fade, so homes and neighborhoods become “memory machines” that help us keep alive some of the strongest sources of what has given our lives meaning, well-being, and happiness. Zambia National Building Society (ZNBS) is about creating these “memory machines”. But more importantly giving lives meaning, well-being and happiness. The launch of the Nyumba Ya Banja Mortgage Promotion sets in motion the aspiration of the Society in terms of its mission to provide affordable and sustainable mortgage financial, financial services and other allied services for the benefit of the Society and other stakeholders. The ZNBS Acting Managing Director Mrs. Mildred Mutesa shared that “Nyumba Ya Banja” mortgage promotion has been coined against the background of family security and a sense of ownership. “It means a home for the family and denotes a sense of family and collective ownership of the family home which ZNBS is proud to play a role in facilitating”, Mrs. Mutesa said during the launch of the long awaited promotion. Launched on the 24th of February, 2020, the mortgage promotion attracted the interest of the Vice President of the Republic of Zambia, Mrs. Inonge Mutukwa Wina. Speaking through her representative, Housing and Infrastructure Minister, Eng. Charles Mushota at the Pamodzi Hotel in Lusaka, Mrs. Wina identified some key factors that have contributed to the rise in the housing deficit in Zambia to as Urbanization and high cost and limited availability of long term financing. “Although there has been rapid growth of the urban population, investment in urban infrastructure has not been commensurate with the growth in population. We therefore believe that we need initiatives like the Nyumba Ya Banja Mortgage Promotion to assist more Zambians with home ownership” the Vice President said. “My challenge to ZNBS and other financial institutions is to come together as an industry and create new and innovative ways of assisting the informal sector to also join in the journey of home ownership.” The Nyumba Ya Banja Mortgage Promotion is set to empower 180 families and will run for a period of six (6) months beginning 24th February, 2020 targeting both men and women. ZNBS has dropped all arrangement fees from 5% to 0% during the period of the promotion. Successful customers will also get up to 100% financing of their purchase under outright purchase. This means that instead of the 75% Loan To Value (LTV) as per industry practice, ZNBS will pay out the full cost of a house.Customers will also enjoy up to 60 days’ repayment holiday from the date of disbursement of the approved mortgage. And speaking at the same function, ZNBS Board Chairperson Dr. David Nama highlighted some of the efforts the Society has put in place to address some of these challenges. ” While we understand the challenges that come with access to affordable housing and housing finance by our customers such as the high cost of borrowing and lack of security or collateral, I am happy to share with you some of the efforts that ZNBS has put in place to try and address these challenges.
Zambia National Building Society (ZNBS) Managing Director Mildred N. Mutesa has been appointed to the Board of Directors of the African Union for Housing Finance (AUHF) at the just ended African Union for Affordable Housing Finance (AUHF) virtual Annual General Meeting (AGM) held on 5th November, 2020 under the theme: “Investing in the Sustainable Development Goals (SDGs): Finding a market opportunity in affordable housing”. Her election means that ZNBS retains its seat on the AUHF Board of Directors.The African Union for Housing Finance is an industry body, that promotes the development of effective housing finance markets, and delivery of affordable housing across Africa, working in the interests of both the members and the industry as a whole. The Association comprises of 48 member institutions from different countries across the continent.The Managing Director was among hundreds of delegates who attended the conference on a virtual platform. She was part of a panel of discussion on the topic: “Alternative Financial Solutions Pre and Post COVID”, that included discussions around product offerings, reliance on local capital markets and the impact of COVID on the mortgage financing industry.The ZNBS Managing Director served as Finance Director for Zambia’s leading mortgage financing institution before her recent appointment as MD. She is a Fellow of the Association of Chartered Certified Accountants (ACCA), and a Fellow of the Zambia Institute of Chartered Accountants (ZICA). She holds a Masters degree in Business Administration (MBA), Association of Certified Chartered Accountants (ACCA), and a Degree in Accountancy from the Copperbelt University. She has over ten years managerial experience at executive management Level.