I am pleased to welcome you today to yet another exciting event, the launch of the ZNBS “BWELA TIMANGE MORTGAGE PROMOTION”. This promotion signifies our commitment to deliver affordable housing finance and accord Zambians an opportunity to own a home.
Let me highlight that today’s launch could not have taken place without the support of all our Shareholder and other stakeholders whom I would like to thank.
Distinguished guest, members of the press
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.
It is against the said background that the Society seeks to continue its mission of providing affordable and sustainable mortgage finance, financial services, and other allied services for the benefit of the Society and all stakeholders. Thus the “BWELA TIMANGE MORTGAGE PROMOTION”.
BWELA TIMANGE is a Nyanja term which simply means “Come, let us build”. The promotion as the name says, is a special invitation to Zambians to take a step and partner with ZNBS in the pursuit of home ownership.
The promotion will run for a period of 6 months starting today with key benefits to our customers being:
- And a 12-month capital repayment moratorium, which means customers will make interest-only monthly repayments for a period of 12 months.
- Reduced mortgage interest rates from 24% to 21% per annum.
- Reduced arrangement fees from 5% to 2% of the loan amount.
- Up to 100% Loan To Value, meaning that customers do not have to put up a contribution of 25%.
Distinguished guest and members of the press the promotion has come with additional incentives courtesy of our business partners BSI STEEL Zambia and Lafarge Zambia. BSI STEEL will be offer up to 25% on all building materials while Lafarge Zambia Limited will be offering free delivery of materials purchased from them by our customers. We believe this will make building a home ore affordable for our customers.
Allow me to therefore thank BSI Steel and Lafarge Zambia Limited coming on board to ensure that we deliver affordability to the Zambian people.
Lastly may I take this opportunity to call upon the Chairman of the Board of Directors, of the Zambia National Building Society to officially launch this promotion, Dr David Nama Sir.
