By NATION REPORTER
THE Zambia Union of Financial Institutions and Allied Workers (ZUFIAW) has launched a ‘Home Empowerment Scheme’ to empower its members with houses which will add value to their personal balance sheets.
Speaking at the launch of ‘ZUFI Manyumba’, scheme, ZUFIAW president Ackim Mweemba said the initiative arose from the realisation that most of its employers had done little to empower their employees with home ownership schemes.
Mr Mweemba explained that lack of shelter had consequently condemned some of its members into destitutions upon separation from employment because they could not afford to build or rent a house after leaving employment. He said it was the reason the union decided to intervene in the real estate market by offering an alternative, flexible and affordable mechanism to employees to possess land and construct a home during their working life. “The ZUFI-Manyumba provides nine options of beneficiaries to choose from the options are accessible and all levels and categories of workers in the financial sector where we draw our membership. The repayment period for the loans range up ten years.
“The other source of pride is that the variety of house designs and plans is wide to choose from and according to what suits the clients,” he said. Mr Mweemba explained that it was for a well-known fact that Zambia had recorded a housing deficit and the 7th National Development Plan (7NDP) highlighted the need to address the problem.
He said ZUFIAW was proud to be in partnership with Diamond Equity Limited to find a solution by offering 4,000 residential plots for sale under the ‘ZUFI Manyumba’ home empowerment scheme.
Meanwhile Diamond Equity Limited partner Gilbert Mabingo expressed happiness that ZUFIAW had partnered with them because they were adding value to individuals at the call of their need.