Friday, September 14, 2007

BBZ enters into partnership with estate agents

BBZ enters into partnership with estate agents
By Joan Chirwa
Friday September 14, 2007 [04:00]

BARCLAYS Bank Zambia (BBZ) has entered into a partnership with local real estate agencies in the provision of home loans to the Zambian people. Bank managing director Danie Nel said the institution was trying to allow participation of as many stakeholders as possible in its operations for positive contribution to economic development.

“This collaboration with estate agents is a significant achievement for Barclays Bank Zambia. The bank needed to find a vehicle that could be used to give long-term investment opportunities. There is a significant amount of development happening in Zambia such as investments in property,” said Nel during the launch of the collaboration between BBZ and estate agents in Lusaka on Wednesday.

“We are increasingly allowing people that do not work for the bank to contribute in a positive manner. We will allow the estate agents to sell and market the product for us so that as many people as possible can have access to the product in an effort to provide decent housing to Zambians.”

During the same function, lands minister Bradford Machila said the government was struggling to meet the demand for housing in the country due to inadequate resources.

“Housing has been made a priority for government,” Machila said. “It is good to see Barclays Bank working with various real estate agents to make housing available to the people through home loans.”

And Hardcastle Realtors principal consultant Christopher Kayebeta, who spoke on behalf of other estate agents, called on the government to reduce taxes on construction materials and processes.

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