HomeBusinessZaha, ZB Bank enter housing development deal

Zaha, ZB Bank enter housing development deal


ZIMBABWE Amalgamated Housing Association (Zaha) and ZB Bank have entered into a strategic alliance aimed at availing housing stands and affordable mortgages to thousands of home seekers in the country.


Speaking at a Press conference yesterday, Zaha director-general Killer Zivhu said a memorandum of understanding had already been signed between the two parties.

“We are happy with this partnership with ZB, an established and strong brand name in the financial retail market. This will see them [ZB] providing the required banking services under the facility and arranging the opening of savings and fixed deposit accounts for interested members,” Zivhu said.

“Without mentioning figures, I can assure our clients that this is the best deal that will see many Zimbabweans benefiting from the scheme. Zaha will be able to expand, finish and start new projects in all corners of the country through the mortgage scheme.”

Zivhu said there would be no payments for non-existent stands as was the case with some associations since the land development scheme has been tailored to safeguard people’s money as their money remains in their accounts administered by the bank.

“The opening of accounts with the bank and Zaha would facilitate access to the housing programme while existing account holders would also have the opportunity to join the scheme if they so wished,” he said.

Zivhu said the partnership would also see the bank providing loans to people doing cross-border business.

“The coming on board of ZB is a relief to about four million informal cross-border businesses, especially women. This gives them the opportunity to own houses and thus empowering them,” he said.

“We want to bring a new horizon in Zimbabwe and encourage the spirit of savings to own some properties by this favourable scheme that will have conducive interest rates.”

Zivhu said Zaha and ZB officials would from today be in Chiredzi as they cement their partnership.

Zaha is currently developing housing infrastructure in Norton and Chipinge, among other areas.

Recent Posts

Stories you will enjoy

Recommended reading