The National Housing Bonds Trust (NHBT) will soon issue the first bond on the Lusaka Stock Exchange (LUSE) to raise funds for the construction of houses countrywide.
Local Government and Housing Minister Silvia Masebo disclosed this when she officiated at the NHBT stakeholders meeting held in Lusaka today.
Ms. Masebo said the local authorities that are supposed to address the country’s backlog of over one million housing units are unable to provide housing due to the inadequate revenue base.
She said government decided to approve the issuance of housing bonds by local authorities through the Lusaka Stock Exchange to raise cheap and long-term finance for the construction of houses nationwide.
She said the first phase in the exercise will cover Solwezi, Livingstone, Kitwe, Chipata and Lusaka.
She the exercise will be rolled out to other districts after the pilot project in the first five towns in completed.
And speaking earlier, NHBT Board Chairman Abel Mkandawire said the board constituted under the Ministry of Local Government is mandated to serve all Zambians with housing and has members from both the private and public sectors.
Mr. Mkandawire said the board is not wholly government but a partnership among various stakeholders in providing decent housing to citizens.
Notable among the stakeholders present at the meeting were Ministers of Education Geoffrey Lungwagwa, Finance and National Planning Ng’andu Magande, Lands Bradford Machila and United Liberal Party President Sakwiba Sikota.
I wonder why you disbanded PHI. I think Richard Sakala put up some decent housing complexes. You should have just cleaned up the bad stuff and moved the project forward. talk about throwing the baby with bath water.
Very innovative way of raising long term capital, well done to all involved. I’m encouraged by the fact that this is a legally recognised entity and most importantly, looks to be a sustainable public/private partnership. As a strong critic of Levy & co., I’m objective enough to give credit where it’s due. Thumbs up to Sylvia Masebo and the team. Local authorities in many parts of the world raise their capital requirements via innovative commercial paper, so this is most welcome and long overdue. Pls keep it up.
Tarantino, you talk too much like a woman. Please do constructive things. please shut.
and your point is?
Could someone enlighten me what this is. What will be the eligibility criteria for accessing the bonds and when? Sounds a good move though. Thumbs up Sylvia and team.
Can someone advise number,type and location of houses in each five towns that will be covered in phase one?
when is this listing. this is progressive
This is a good way of raising money as long as it is put to its intended use.
I honestly think that the Government should stop allocating land to individuals to build structure less (Houses) that have no plan. If only we could buy ideas like PHI (Chainama area) and build structured houses like those ones then the whole of Lusaka and other parts of Zambia would look morden and structured and a good place to reside.
The Lusaka city council should be held responsible for all bad planning in Lusaka. And should clean their dids.
Somebody help me with the web site for NHBT please.
great article about, nonetheless! i don’t want to be so negative but i do think that your web site could look better if you would have a little bit of brown in it :) No…, you don’t need to agree… this is only my humble thoughts and opinions. Thanks to the good post anyhow! ;) All the best.