TRYNESS TEMBO
Lusaka
ZAMBIA National Building Society (ZNBS) has paid a K15 million dividend to Government, marking another milestone in the institution’s sustained profitability and commitment to housing development in the country.
The dividend cheque was officially handed over to Minister of Finance and National Planning Situmbeko Musokotwane, who applauded ZNBS for its consistent financial performance and pledged continued government support.
“This is how we expect parastatals to operate,” Dr Musokotwane said during the ceremony held in Lusaka.
He noted that ZNBS remains a vital pillar in Zambia’s housing finance sector and commended the institution for its role in providing affordable mortgage solutions.
The minister pointed out that ZNBS currently offers the most competitive mortgage rates on the market, aligning with Government’s agenda to reduce the cost of borrowing.
Dr Musokotwane further congratulated ZNBS on the successful launch of its recent housing developments – the Kwathu Housing Estate in Chilanga and the Garden Housing Estate in Mansa – describing them as models of decent urbanisation that should be replicated in other towns.
He reaffirmed Government’s support as ZNBS pursues avenues for low-cost capital to boost its lending capacity.
The minister also welcomed the institution’s planned investment in a state-of-the-art Tier 1 core banking system and upgraded ICT infrastructure, which are expected to enhance operational efficiency and competitiveness.
