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National Building Society (NBS) has opened a new branch in Chinhoyi to bring services closer to customers. With 67 percent of Zimbabweans living in the rural areas, there is huge possibility for financial institutions to increase their presence in the traditionally marginalized market.
The new branch will offer, among other and services, a dedicated private banking suite, Mortgage Loans, Personal Loans and Funeral Cash Plan. Speaking during the launch, Minister of public service, labour and Social Welfare, Honourable Prisca Mupfumira said “NBS is a positive for Zimbabwe in general and the town of Chinhoyi in particular celebrates them today.”
“The arrival of NBS in this town will help in facilitating the provision of affordable housing not just for the people of Chinhoyi but also for Mashonaland West province. This also spells business opportunities for construction property development, real estate and building supplies businesses in the region.” She added.
The bank now has 3 branches in Zimbabwe, a branch in Harare and Bulawayo and would open branches in Masvingo, Gweru, Mutare and other parts of the country.
The Minister said “NBS is at a very advanced stage in finalizing the planning of the first phase of a new housing project in Chinhoyi and if I may say not very far from here in an area called BRUNDISH. Their commitment to service the people of this province is therefore very evident”
NBS will this year introduce banking agents in its network by the year end ,as the financial institution taps into the unbanked by bringing financial services to the consumer’s doorstep.
Acting NBS Board Chairman, Mr N Chiminya, who was at the inaugural function, said “we pledge that as the NBS board we will continue to uphold the same high standards of transparency that have been implemented at NSSA”.
National Social Security Authority (NSSA), has committed to funding the housing delivery project and has so far committed $15 million in the low-cost housing project in Chinhoyi.