Municipal Reporter
THE National Building Society Limited (NBS) has set its eyes on Beitbridge Town where it will have physical presence and also seek partnerships with local authorities and companies.
Registered as a building society under the Building Society Act Chapter 24:20 hopes to engage the Municipality of Beitbridge in its housing agenda with more focus towards low cost residential properties.
On Monday Goodman Mudzviti who heads the bank in Matabeleland said his National Social Security-owned organisation was now a fully fledged bank seeking to expand its presence in Gwanda and Beitbridge.
“We are now a fully-fledged bank and celebrated our 10th year this year. We are required to be in all the provinces and major centres which is why we are in Beitbridge today. We need have an office here and Gwanda,” said Mudzviti.
He was introducing his building Society to the Municipality of Beitbridge during its full council meeting on Monday.
NBS was set up with the mandate of delivering affordable low cost housing through the provision of Mortgage finance to first time home owners primarily for high and medium density developments.
He said apart from housing the bank was open to partnerships with companies and individuals over and above construction financing.
Mudzviti said NBS could also finance salaries for local authorities which it could also assist in equipment purchasing.
“We have vehicle asset financing for executive cars where we put 75 percent and tye same vehicle becomes the collateral,” said Mudzviti.
An official of the Beitbridge MoB Piyo Muchena asked if NBS was open to loans to overhaul a sewerage systems.
Beitbridge is haunted by ageing sewer lines constantly breaking down.
Muzviti was accompanied by a civil enineer Mandlenkosi Ncube.