NBS lines up women's mortgage scheme

ThE National Building Society (NBS) has partnered National Social Security Authority (Nssa) to bankroll a property mortgage programme that is expected to see over 50% of women in Zimbabwe owning properties.

Over the past 40 years, most properties were owned by men and in the event of unpleasant developments, women were adversely affected. The world over, March is celebrated as the women’s month.

Yesterday, NBS and Nssa hosted a women's high-tea where the bank unveiled its special mortgage scheme which favours women.

NBS head of credit Charity Chiwasha said women should not be excluded in investment opportunities as they constitute a significant percentage of the small and medium enterprises sector.

“We are breaking the bias in the property market to allow women to own property, be it residential or commercial,” she said.

“We have created a number of financial services suitable for both the formal or informal sector and we have certain requirements that fit certain segments. As NBS and Nssa, we are ready for the women to come to NBS and participate so that by the end of the year 2022 and into the future, we would like to break the bias and have at least 50% of the women participating in the property market and own property as women. There is no age limit as long as you are women above 18 years regardless of status,” she said.

Chiwasha added that financial products offered by the bank included mortgages for outright purchases as micro-mortgages for those buying land which is not titled.

“What we are doing at the moment is to enhance it to move with the theme of financial inclusion so that no one is left out in breaking the bias in owning property. Property comes in various forms — house or commercial or land.

As NBS we have land banks and in addition we are financiers and our role in financial mediation is to offer finance to women,” she said.