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Plumtree Town secretary Mr Davis Luthe digs to mark the ground breaking ceremony by ZB bank to build medium and high density houses in Plumtree town on Saturday. On the left is the ZB bank group CEO Mr Ron Mutandagayi (holding a shovel), Mangwe District Council chairman Mr Mafesi Ncube and the district administrator Mr John brown Ncube on the right. — Picture by Dennis Mudzamiri

Wilson Dakwa, Business Reporter
ZB Financial Holdings (ZBFH) has partnered with local authorities to fund housing development in different towns.

Speaking at the unveiling of the bank’s $370 000 Plumtree housing project on Saturday, ZB group chief executive officer Mr Ron Mutandagayi said the institution is committed to housing development.

“We are playing our role in reducing the housing backlog in the different towns and this is in line with the objectives of the country’s economic blueprint, Zim-Asset.

“We are providing funding towards housing development in this town and very soon we will be unveiling similar projects across the country in partnership with councils such as Zvimba, Kwekwe and Beitbridge.

Mr Mutandagayi said the project to fund housing development started five years ago and so far 300 stands have been serviced in Beitbridge.

“We are servicing stands and this includes constructing roads and putting up electricity infrastructure, water reticulation systems and other necessary facilities.

“We also fund the actual construction of houses,” he said.

The partnership between ZB and Plumtree Town Council will result in 708 houses being constructed for low income earners and the project is expected to be completed by April 2018.

The town secretary Mr Davis Luthe said his council was battling to reduce its housing backlog of 4 000 units hence it was partnering banks such as ZB that were funding the servicing of stands and housing construction.

He said ZB will also provide funding for the construction of sewer ponds estimated to cost  $370 000, a shopping mall, school and a police post.

Mr Mutandagayi said apart from funding infrastructure development and servicing stands, the bank was providing mortgage loans to homeseekers.

“ZB has a dedicated mortgage loans desk at all its branches. We offer mortgage loans and the repayment period is up to 25 years,” he said.

Meanwhile, Mr Mutandagayi said his bank will with effect from 1 October stop processing manual RTGS and internal transfer forms.

“With effect from 1 October 2017, we will no longer be processing manual RTGS and internal transfer application forms.

“Individuals and corporates are kindly requested to use the online banking service and must register by 30 September,” he said. — @WilsonDakwa1