NBS to dis­burse hous­ing loans Nash Paints to set up new plant

Chronicle (Zimbabwe) - - Business Chronicle - Wynne Zanamwe Oliver Kazunga

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.

Newspapers in English

Newspapers from Zimbabwe

© PressReader. All rights reserved.