NBS to disburse housing loans Nash Paints to set up new plant
LOCAL paint manufacturer, Nash Paints, has embarked on an expansion drive aimed at increasing production of domestic and automotive paints to about 400 000 litres and 100 000 litres per month respectively.
The manufacturing company has new products to offer such as automated tinting system, wood line products among others.
In an interview, Nash Paints Technical Manager Mr Kudakwashe Chemhuru said the company, which produces 40 percent of its products locally, is set to open its plant by the end of November this year in Granite side, Harare.
“We have a new factory that should be operational by the end of November in Granite side, we are only left with the health safety aspect and we are looking forward to be accredited by SARS and ISOL.
“We now have the means and capacity to produce our own automotive paints and currently we are the leading manufacturer of automotive paints,” said Mr Chemhuru.
“Nash Paints is set to create employment for locals and is currently on a graduate trainee programme, which targets local painters.We now have a well trained technical team, which means we will no longer be distributing automotive paints from other companies and we have also started a graduate trainee programme where we mentor graduates on different aspects.
“It is a one year programme based on performance and we are targeting normal painters, city council, public works among others so that we conscientise them more on paints.”
He said Nash Paints was taking the training programme to all parts of the country starting with Gweru. — @wynnezane THE National Building Society (NBS) will next month commence housing development in line with its mandate of improving access to accommodation across the country.
The building society, which was launched about six months ago, is owned by the National Social Security Authority (NSSA).
Responding to written questions from Business Chronicle, NBS managing director Mr Ken Chitando said driven by their mandate to improve housing units, they have since commencement of operations started financing housing development projects.
“In line with our mandate towards increasing the housing stock, the society has been financing more building loans than any other type of mortgage loan since inception.
“We’ve also partnered land developers and like-minded corporates, with one such partnership expected to unveil new houses in Harare in a few weeks,” said Mr Chitando.
“However, in terms of our own projects, these are scheduled to commence in November 2016.
“Our strategic intention is to build houses nationally. However, our initial thrust will be in those areas where our shareholder, NSSA, has existing land banks.”
Under the first phase of the housing project, NBS is looking forward to building houses in different parts of the country starting next month.
“The first developments will consist of Glaudina Project (in Harare) with an estimated 784 units comprising twobed walk-up apartments (flats) and Chinhoyi Project which is expected to have 500 units on completion,” said Mr Chitando.
It is believed that the first set of occupants under the building society’s housing scheme are expected to move in by 2017.
Mr Chitando said the building society has already started underwriting the new mortgage loan business to low income earners.
“Our sales staff in branches and service points are available to discuss the mortgage loan qualification criteria,” he said.
In January this year, NSSA indicated that thousands of Zimbabweans are set to benefit from its building society low-income housing scheme that will see properties being availed to civil servants and the average worker through low cost mortgage loans.
The NBS project is one of the many housing schemes that have been availed in the country in line with ZimAsset to ease housing shortages.
Under Zim-Asset, Government has set a target to build more than 300 000 houses by 2018 to ease the housing backlog which presently stands at about 1,25 million.