AN agreement that will reduce the price of cement and interest rates on mortgages has been signed by the Zambia National Building Society (ZNBS) and Lafarge Zambia Plc.
Under the agreement, Lafarge pledges discounted cement to all the beneficiaries of the Bwela Timange Mortgages promotion for ZNBS as well free delivery via last-mile delivery platforms Afridelivery and Tigmoo.
The agreement would not only translate into increased uptake in the loans and sales for partner institutions, but also significant savings for customers, says ZNBS acting Managing Director, Fortune Mukuka.
Mr Mukuka explained that the agreement would benefit both mortgage and building materials loan customers during and after the Bwela Timamge Mortage promotion.
He said this yesterday in Chilanga at a Chilanga signing ceremony of the Memorandum of understanding (MoU) with Lafarge Zambia Plc.
“This complements our mission of providing quality affordable and sustainable mortgage finance, financial servicesand other allied services for the benefit of our clients and the society as a whole,” he said.
ZNBS was offering members of the public 21 per cent on mortgages and reduced arrangement fees of two per cent from five per cent.
He said ZNBS was mandated to mobilise resources for onward housing finance thereby helping to increase the housing stock in Zambia.
Speaking at the same event, Lafarge Zambia acting Chief Financial Officer Choolwe Natala Lungu said the partnership would help reduce the housing deficit which the country was 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,” Ms Lungu said.
The company has more than 4,000 local shareholders, employs more than 1,000 people both directly and indirectly, and has a direct impact on over 8,000 families that benefit from activities related to the business.