NBS opens second branch in Bulawayo

The government says the National Building Society (NBS) has complied with the Banking Act requirement of at least US$25 million capital out-flow, giving confidence to depositors.

Launching the second branch of the bank in Bulawayo, the Minister of Public Service, Labour and Social Welfare, Prisca Mupfumira said the government took a bold decision to invest pension funds in a banking institution to provide a one-stop shop for financial services as they roll-out a massive housing development project in the country.

"The institution will provide a needs based service especially to the low income earning group, that has been marginalised by financial institutions for a long time," she said.
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Bulawayo Provincial Affairs Minister, Eunice Sandi Moyo appealed to the Bulawayo community and the region at large to support the building society by opening accounts and investing in housing.

She however warned officials of the institution against corruption in disbursing the funds.