Zambia National Building Society (ZNBS) signs MoU with Lafarge Zambia Plc that targets reduced prices
Finance, Lafarge

Zambia National Building Society (ZNBS) has signed a Memorandum of Understanding with Lafarge Zambia Plc that will see the reduced price of cement and free delivery while enjoying reduced interest rates on mortgages under the Mortgage Promotion.

Under the MOU, Lafarge pledges discounted cement to all the beneficiaries of the Bwela Timange Mortgages as well free delivery via last-mile delivery platforms Afridelivery and Tigmoo.

ZNBS on the other hand, after launching an attractive mortgage promotion dubbed Bwela Timange is offering members of the public 21% on mortgages and reduced arrangement fees of 2% from 5%.

At the signing ceremony of the MOU, ZNBS Acting Managing Director Fortune Mukuka said the agreement would not only translate into increased uptake in the loans and increased sales for partner institutions, but also significant savings for customers.

Established in 1970 by the Government of the Republic of Zambia, ZNBS’ mandate is to mobilize resources for onward housing finance thereby helping to increase the housing stock in Zambia.

The Banking and Mortgage finance institution which boasts of a footprint of 22 points of representation along the line of rail with its headquarters and a mortgage centre in Lusaka, has decentralized its mortgage disbursement to all its branches. This implies that customers can apply for mortgages from any branch and disburse from the same point.

Speaking at the ceremony the Lafarge Zambia Acting Chief Financial Officer Mrs. Choolwe Natala Lungu said the partnership will help reduce the housing deficit which the country is facing.

’’Today through this partnership our customers will be able to access mortgage financing and sustainable construction materials to construct affordable houses, hence helping to reduce the housing deficit the country is facing’’, she said.

Lafarge Zambia is the country’s leader in building materials and solutions and operates with local transporters and contractors. The company has more than 4000 local shareholders, employs more than 1000 people both directly and indirectly, and has a direct impact on over 8,000 families that benefit from activities related to the business.

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