One of the fastest growing land developers in the Midlands province ‘Greynut Investments’ has entered into a partnership deal with two local banks to develop residential stands for low- middle-income earners.
The project has more than 1 700 stands measuring between 200m2 and 500m2.
Greynut Investments is partnering up with National Building
From left Mr Jameson Museke Marketing and operations Executive and Mr Isiah Mudzengi Land Owner and Director of Greynut Investments
Society (NBS) and FBC Mircoplan Services for the purpose of developing low-cost housing units which the banks will provide mortgages to interested home-seekers.
“We saw it fit to partner up with big banks across the country such as National Building Society and FBC Mircoplan Services to deliver in the most authentic, accountable, transparent manner of providing land to the people.Its our desire to give home-seekers a sense of belonging and a sense of ownership.
Banks will come in to provide mortgages or loans on a special arrangement to expedite the outstanding works, as the process is very long and tiresome, hence the decision to rope in banks to assist in the process,” said
Greynut’s Marketing Executive, Mr Jameson Museke.
Greynut in conjunction with NBS will be offering building loans to purchase a serviced stand and the subsequent building of a habitable structure. The Society will not be financing the purchase of vacant stand especially if the client is not adding a habitable structure on the property.
Mr Museke regarded the NBS as the best mortgage facilities in the country that will aid in the provision of sustainable housing development.
“NBS has the best terms when it comes to mortgages and loans since they are user friendly. NBS is ready to provide mortgages for home-seekers to build their houses without having any burden of a debt. They will provide the loan facilities to build own house within three months.
Financial institutions want title deeds in-order to assist in the facilitation of funds and Greynut will offer title deeds without having the need to finish payment of the stands,” said Museke.
Regional Manager for Micro-Plan Finance, a subsidiary company of FBC, Regis Madzimure said their thrust is to assist the low income earners and have since partnered with Greynut Investments to help the low- and medium-income earners to finance the construction of houses in Gweru.
“The most important thing to us as an organisation is to partner with the low and medium income earners to help them realize their dream by assisting them to access cheaper funding to build houses in a possible shorter period of time,” said Madzimure.
He said Greynut project is one of the unique agreements which will see the beneficiaries pay an affordable interest.
“As you are aware that the RBZ has set an interest rate threshold of 10% to all micro finances but as an institution who believes in providing affordable financial services, we are offering the Greynut project a cheaper rate, so that housing beneficiaries will be able to built their houses as well as feeding their families,” he said.
Madzimure also stated that, Micro-Plan Finance is one of the best financial institutions in Zimbabwe and Africa that has survived the economic turmoil affecting most financial organizations.
“We are one of the best reputable certified platinum financial establishments in Zimbabwe rated among the 5 excellent lending organizations in Africa.
“As you are aware that most financial institutions such as Barbican, Kingdom among others have disappeared due to lack of risk management strategy but Micro-Plan Finance survived because it is well positioned, deep rooted in communities’ and a well disciplined financial organisation,” explained Madzimure.
Madzimure said one does not need to open an account to access funding from the Micro-Plan Finance.
“With Micro-Plan Finance one does not need to open an account with our bank, we help you using your usual banking to a maximum amount of $15 000,” he said.
Greynut housing project will benefit more than 5 000 people.