STANBIC Bank Zambia is set to provide building loans to the private sector to help steer investments in real estate business, head of personal and business banking, Nelus Agenbach has said.
He said the bank had been following trends in the housing market and it was apparent that the private sector needed to take a more centre-stage in providing workable solutions to mitigate the impact of shortage of houses.
This was on Tuesday evening during the launch of the home loan facility being spearheaded by Stanbic Bank Zambia. During the same function, Lusaka town clerk, Timothy Hakuyu challenged the private sector to step in and invest in the development of properties in Lusaka in order to cushion the burden of accommodation in the capital city.
Mr Hakuyu said Lusaka’s population growth was alarming and far outweighed the housing units in the capital city.
He said the private sector should come up with innovative ways of providing accommodation, which was previously a responsibility of the Government and the local authority.
Mr Hakuyu said it was pleasing that Stanbic Bank had introduced the home loan scheme to assist Lusaka residents purchase properties from the Tafika and Foxdale housing schemes in Kanyama and Roma townships respectively.
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