Bwela Timange! ZNBS’ answer to Home Ownership
Opinion, Strategy

Zambia National Building Society has launched its much-anticipated mortgage product that seeks to address the home ownership gap that currently exists in the market.

CEO Mildred Mutesa


Aptly named “BWELA TIMANGE” which in local dialect means “Come, let us build”, embodies everything that the over 50-year-old institution stands for, ‘a partner in building and helping its customers own homes’. The promotion will run for a period of 6 months and is applicable to all residents in Zambia.

The progressive promotion sees the mortgage house give customers 12 months capital free repayments, a reduction to 2% on arrangement fees, 1% less on interest rates per annum, and ensure 100% financing of completion of house construction or purchase. Furthermore, the promotion is applicable to all new mortgages booked in the various categories that include outright purchase, balance transfer, construction mortgage and equity release.

Board Chair Dr David Nama

This strategy not only signals an intent to increase market share by the lender but also position itself as a trusted easier to access lender of choice for prospective homeowners. To demonstrate its flexibility, the promotion will also cater to refinancing mortgages with other financial institutions making it easier for prospective customers to switch to ZNBS.

To ensure that the promotion is successful, ZNBS has partnered with strategic stakeholders during the promotion that will assist the bank in the implementation. BSI and Lafarge are the partners with the former providing steel products (with 25% discount on all products) while the latter providing cement products (with free delivery) that will compliment the construction process.

CEO and Board Chair ZNBS unveil a mock up of the BWELA TIMANGE promotion

During the launch held at Southern Sun Hotel on 21st September 2021 CEO Mildred Mutesa mentioned that she was proud of ZNBS latest promotion following the successful roll out of the previous promotion.

“This promotion signifies our commitment to deliver affordable housing finance and accord Zambians an opportunity to own a home”, according to the CEO during her speech. “It has been more than a year since we launched the last promotion dubbed Nyumba Ya Banja Mortgage Promotion” which run for 9 months from 24th February 2020 and was targeted to empower 180 families through affordable mortgage finance. I am glad to report that through this promotion the Society was able to empower 173 families with mortgages translating to K63million kwacha worth of mortgages financing”

Furthermore, she indicated that strategic partnerships with BSI Steel and Lafarge would make it easier for customers to enjoy the full benefits of the newly launched product.

According to a statement attributed to the Board Chair David Nama, “Today marks another exciting milestone in the Zambia National Building Society’s journey towards providing affordable Housing Finance in Zambia”. He further stated that “the Society has remained committed to its vision of “becoming the leading housing finance and premier banking in Zambia financial market”.

BWELA TIMANGE being the 3rd promotion that comes after the successful roll out of two other promotions is a significant milestone for the lender as it executes its mission statement. “I urge everyone to start banking with ZNBS”, further statement from the Board Chair that indicated that there was more to come from the lender as it seeks to provide a complete suite of banking products to its customers. “Allow me to state right here that ZNBS has set aside ZMW80 million to be disbursed during this promotion. We are very hopeful that after six months of the promotion, we will be able to see at least 160 households or families well empowered with housing”.

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