We are excited to inform you that ZNBS has been added to the list of Financial Institutions eligible to process NAPSA partial payments. This means that all eligible ZNBS customers can now receive their partial pension payments from NAPSA through their ZNBS accounts.
ZNBS presented a Dividend of K30,000,000.00 to the Government of the Republic of Zambia through the Ministry of Finance and National Planning. The Dividend was presented by ZNBS Board Chairperson Dr. David Nama and received by the Minister of Finance and National Planning Hon. Dr. Situmbeko Musokotwane MP at an event held at the Ministry Headquarters on Tuesday 08th August 2023.
ZNBS continues empowering Zambians with affordable housing finance through it's tailor made Mortgage solutions and extensive network.
Capital Finance International (CFI.co) has awarded Zambia National Building Society with the 2023 Award for the Best Mortgage Provider in Zambia for the second consecutive year running.
CFI.co is a print journal and online resource reporting on business, economics and finance. Headquartered in London, CFI.co provides news, analysis and commentary on markets worldwide. They address changes in technology and innovation affecting these markets and help identify regions, industry sectors and companies that will succeed.
Zambia National Building Society (ZNBS) was established by the Building Societies Act in 1968. Since its inception, ZNBS has grown into the largest Building Society in Zambia, with a nationwide network of 21 branches. Over the past 53 years, Zambia National Building Society (ZNBS) has pioneered Zambia’s mortgage market and boosted affordable housing finance solutions for all citizens with incremental construction ,home purchase and improvement finance solutions, continuing to tackle the challenge of Affordable Housing Finance in Zambia. Around a third of all mortgages help clients become first-time homeowners. ZNBS reported a 40 percent year-on-year increase of mortgage lending to homebuyers and landlords in 2022 and the ensuing construction boom created an estimated 1,800 indirect jobs.
ZNBS has introduced new mortgage products and terms that transform homeownership from a dream to a reality. ZNBS’s 30-year mortgage promotes financial inclusion as more people can qualify for funding with longer repayment periods. A drop in the standard variable rate for a mortgage, from 21 percent to 16 percent, makes homeownership more of a possibility for those with entry-level careers. Mortgage customers could be eligible for a 30-day, interest-free salary advance. Clients with a construction mortgage can apply for a capital repayment holiday up to 90 days. ZNBS hopes to help the diaspora community maintain ties with the homeland by offering mortgage solutions to Zambians living abroad.
ZNBS has acquired over 100 hectares of land to develop eco-friendly housing development projects to include infrastructure for roads, water, electricity, and sewerage services. It intends to sell the parcels at more affordable, below-market prices and finance the home purchase through a mortgage.