The Zambia National Building Society (ZNBS) says government’s commitment in creating over 326 thousand jobs in various sectors in the country, has positively impacted on mortgage business.
ZNBS Luanshya Branch Manager Susan Kacholola told ZANIS that the institution’s loan portfolio currently stands at K204 million and was remarkably escalating in view of the desire by many Zambians to own property.
Commending government on its positive strides in employment creation, Ms. Kacholola said the development has given the institution an opportunity to further its capacity in service provision.
She observed that the revamping of the mining activities in the district, has recorded economic growth which has translated into the desire by many residents to acquire property.
“Our target market is segmented, Copperbelt and Luanshya in particular is predominantly a mining town with established business enterprises supplying various goods and services to the mines resulting in income generation and the need to own property,” Kacholola said
She added that ZNBS’s core business is mortgage financing, but that due to the increased economic capacity by customers, the institution was also strongly advancing in deposit taking with savers accounts reaching K90, 000 and loan accounts currently standing at K20, 000.
Ms Kachola has implored Luanshya residents to embrace the culture of hard work, innovation and commitment to maximize wealth earning not only for the country but also for individual benefit.
She further encouraged the spirit of saving as a way of income maximization, which will benefit both ZNBS and its customers.
The patriotic front government has in the past two yearS created over 326 jobs in various sectors with an enabling business environment aimed at encouraging entrepreneurship and job creation in the informal sector.
ZANIS
Are these figures for Luanshya Branch or the Institution as a whole?
and your mortgage is only given to your friends and relatives
Growing the Industry and clientele will be helpful for the institution and learning from farmers house and meanwood.This is also one of the many industries with asset classes treated as though they were separate from all other portfolios with a closed up system.
There is so much room to improve and excite the mortgage industry apart from the traditional.
e.g mortgage pass throughs,listing like farmers house or formally,positioning and trading with other asset class as part of the broader increased market at luse.creating linkages with napsa and other realts to form a fibrant market in the sector.Financing of real estates/houses in constructions in joint venture arrangements with Kalumbila…
Its means having a re look at the investment mandate for the institution and growing its lines with linkages with other asset/funding managing entities to tap in the wide immerse opportunity like the one being done by savenda in solwezi.
adding on to the retail type of mortgage arrangements, improving on the content and documentation and legal structure of these facilities making them more attractive in operations and covenants to both ZNBS and the client removing the myth as it where.
Creation of an atmosphere to secure those who may foreclose will also increase participation and confidence amongst the players.Having a tangent and workable form of insurance system unlike the tendence to…
Zambian style of doing business, no information just small pieces put together. @Jonathanmhango Financial Analyst. give us more info, please simplify. howmush is deposit and monthly installments?
Reports and Financials at ZNBS and term structures are free. Get them and learn to share and improve the awareness.
I make sure I familiarize myself with sites periodicals and reports and tage advantage of shows like trade fair and agriculture to oriented and understand myself.
There is a current event at mulungushi,attend and learn something to improve situations. The events is in line with the same
I am sure the people at ZNBS are open and useful.Get the infor and ask Lusaka times to discuss here.We will be more than of service for now I can say do your research and be useful and ask LT to share your findings will be more useful to share our observations also
@jonathanmhango are realy a financial analyst or znbs employee, your grammer something else. ZNBS has a website all the info is there!
Yes the Inform is their but now compare with a private owned like mean wood or realty o formerly Farmers house.I have tried to avoid to explain much but simply to excite and see.I am being cafeful not to take anything from Lusaka times not to appear to be offering consultancy on their site. I am strictly trying to be part of the social media as offered by Lusaka times hoping that we continue to turn the wheel as excited by Lusaka times.Simply to alley your fears I am a chartered Fellow wit h ACCA and ZICA and a member of CFA and actively participate in the CFA program me which I enjoy. I am well We need to expand the alternative investments on ZNBS and more away from simple retail mort
Yes the Inform is their but now compare with a private owned like mean wood or realty o formerly Farmers house.I have tried to avoid to explain much but simply to excite and see.I am being cafeful not to take anything from Lusaka times not to appear to be offering consultancy on their site. I am strictly trying to be part of the social media as offered by Lusaka times hoping that we continue to turn the wheel as excited by Lusaka times.Simply to alley your fears I am a chartered Fellow with ACCA and ZICA and a member of CFA and actively participate in the CFA program me which I enjoy. I am well We need to expand the alternative investments on ZNBS and more away from simple retail mort
Learn Something from the JP Morgan asset management firm website and see what you can improve I know you recently had engaged a consultant but I feel you need to do a little bit of refinement on your site to align it to the current asset class you are mandated to work in current and amend your investment policy to ensure you do away with holding to maturity type of mortgages and exercise flexibility in the current fixed income operating requirement.Reporting and you se investors needs to see the performance of your asset classes and be motivated to invest. Post reports on returns on the mortgages and make the trades a little transparent for all to see.indexes and other reports
@ jonathanmhango Financial Analyst
You are a waffler. Your writing is so poor and i don’t think you completed your grade 12, let alone ZICA and ACCA. Did you know that ACCA has the toughest exams in the world? With that English, you have no chance my dear.Carry on Deluding yourself.
Stick to the subject and do not be personal and Cheap. I have outstanding qualities I what I am pursuing for CFA I am research challenge material for ACCA I was the Overall Best Challenge for the year of my graduation beating all students/
I am a patriotic Zambian.I need not to prove to you.I am very talented at what I do and tell I need not to prove you my friend.You wanted feedback on your website I have hinted you. Because I put value to what I do I can today decide to leave the country and will still find work in Botswana,Southafrica,UK or US because of the exceptional quality whites have seen in my participation in CFA.I am a proud Zambian a CFA research challenge material…
I Have now come to understand why people leave when enticed. Zambians are hardworking people very intelligent and useful but often lack self esteem and dependency to be lead and offered consultancy when they can create capacity and only team up to create further capacity. The current generation of young people will do even much better because there are being talk mind changing techniques So bosses let me not support those people who have left and created value and been seen to be the lead across then you start crying for help fom Zambians in the diaspora.I am comfortably employed here in Zambia by a parastatal I can easily get on next plane and accept People do not read and need people