NBS partners Vaka to launch diaspora mortgages
By Staff Reporter
Zimbabweans in the diaspora can now access mortgage loans from the National Building Society (NBS) following a partnership deal by the bank with UK based Vaka Building Materials and Hardware ,a diaspora focused construction concern.
The partnership which seeks to offer properties and mortgages to Zimbabweans in the diaspora will see potential clients opening accounts with NBS and access other NBS products from the comfort of their homes.
A mortgage is an agreement between an individual and a lender that gives the latter the right to take back property should the individual fail to repay the money borrowed plus interest.
Mortgage loans are used to buy a home or to borrow money against the value of a home you already own. The National Building Society is a leading mortgage provider in Zimbabwe and is also into developing lands and properties to sell.
Vaka CEO Tapiwa Kundoro said this was a response to a clarion call by Zimbabweans in the Diaspora who have been seeking diaspora mortgages that allow them to develop their land and buy properties back in Zimbabwe.
“We are excited to be partnering with the National Building Society a leader in the mortgage industry. Many Zimbabweans in the diaspora have been asking for diaspora mortgages in order to develop their land and buy properties in Zimbabwe.
“Through accessing the diaspora mortgages people can finish their building projects at a much faster pace. This is definitely a game changer and will benefit many Zimbabweans in the diaspora. We are proud to be partnering with NBS and taking this product to market .” he said.
NBS Head of Marketing Mildred Kujinga commended the partnership saying “the partnership unpacks our mandate of delivering houses to Zimbabweans anywhere , we believe life can take you across the globe but as NBS through such partnerships with Vaka we together bring you home/ kumusha/ekhaya .The good news for Zimbabweans in the diaspora is that riding on this partnership will end with you owning a home back kumusha/ekhaya” she said.
Recently, Vaka also partnered a leading manufacturer and distribution of roofing materials, Chromadek Centre Zimbabwe in a bid to continue to strengthen a one stop building materials supply shop that enhances customer convenience. Nehanda Radio