"The requirements are stringent now due to the bank failures so the RBZ wants to ensure that those appointed directors are men and women of repute but there is some urgency on the matter," said
"We have already prepared a paper with the Local
He said NSSA will hold 100 percent ownership of the bank.
NSSA will transfer
Currently NSSA is developing 683 residential stands in Runyararo West in Masvingo among many other real estate initiatives ongoing countrywide.
"Once the bank is registered, we will officially value and transfer all the land we hold in Chinhoyi, Karoi, Chegutu, Kwekwe and in other areas around the country," said
He said setting up a micro-finance bank was cheaper since it requires only
"It is for this reason that the board decided that we can serve the same purpose through the micro-finance bank. The bank will offer other banking service but will focus primarily on housing development," said
In the national budget, Finance and Economic Development Minister
He said treasury will facilitate the mobilisation of resources for the purpose of planning, surveying and servicing of land for the development of housing stands.
"As part of implementing the National Housing Policy, Government continues to leverage on land and the
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