Business / Companies
NSSA Building Society officially launched
18 May 2016 at 16:31hrs | Views
The National Social Security Authority's National Building Society (NBS) has been officially opened in Harare.
In his address at the official opening ceremony, NBS board chairman Gamaliel Bwanya said the building society will offer relevant and affordable solutions through direct housing market interventions that include undertaking housing developments in partnership with NSSA or selling mortgage to buyers.
Mr Bwanya said it will also facilitate new housing developments by private developers in providing affordable financing for buyers.
He added that the building society will reduce the national housing backlog as well as trigger activity in related downstream industries and in the process creating employment.
NBS managing director Ken Chitando said the building society is a response to government's ZIM ASSET programme and contributors to NSSA requests to provide a benefit prior to retirement age.
In her address at the opening ceremony, the Minister of Public Service, Labour and Social Welfare Prisca Mupfumira said the NBS is created out of the National Pension Scheme, which has 60 percent shareholding and 40 percent of the Workers Compensation Insurance Fund.
The bank is situated at Karigamombe Centre at corner Julius Nyerere Way and Samora Machel Avenue.
Source - zbc
