Property development ripe for investment in Zambia-UK envoy

 Property development ripe for investment in Zambia-UK envoy

National Housing Authority (NHA) Chief Executive Officer Waicha Ndhlovu says the NHA is keen for the Zambian Diaspora to contribute to national development through participation in the housing industry.

And Zambia Development Agency (ZDA) Acting Director General Theresa Shuula has called on Zambians living abroad to take advantage of the booming infrastructure sector by investing in property investment in Zambia.

Meanwhile Ministry of Infrastructure and Housing Chief Architect Humphrey Simfukwe has said Zambia is consistently improving in the business environment and the economy has seen significant growth in the property market.

During the Property Investment Town Hall Meeting organized by ZamOxBridge Alumni Network, Zambians Together and Zambia Business Club in partnership with Zambia High Commission London, Deputy High Commissioner Patricia Sikaala Chanda said the Diaspora has huge potential to help facilitate investment in Zambia and urged Zambians living abroad to take interest in the investment opportunities in the country.

“I wish to thank our Permanent Secretaries in the Ministry of Foreign Affairs for the continued support with engaging with the Diaspora. This just shows the importance that the Ministry of Foreign Affairs has attached to connecting with the diaspora,” said Ms Chanda.

And Ms Ndhlovu said the vision of the National Housing Authority (NHA) is to have a Zambian Diaspora that is properly engaged to participate in purchase of housing units developed under its various schemes across the country.

She said the authority has come up with favaourable policies aimed at ensuring that Zambians locally and in the diaspora purchase newly developed housing units through flexible schemes.

“In recognition of the huge potential of the Diaspora, the Government has developed the National Diaspora Policy through the Ministry of Foreign Affairs (MFA). The national diaspora policy highlights the potential of the Zambian diaspora in terms of financial, intellectual, and social capital to be harnessed,” she said. “NHA is committed to implement the proposed NHA Diaspora Policy in order to support the overall national diaspora policy objective of integrating the Zambian Diaspora in the development agenda of the country; by creating an enabling environment and platform for effective participation of the Zambian Diaspora in national development.”

Ms Ndhlovu explained that the authority’s diaspora policy focuses on how to harness and maximize the potential of the many Zambians abroad to contribute to the housing industry, saying, through the policy her organization seeks to meet the diaspora’s housing needs and expectations in terms of ownership, investment and security.

And Ms Shuula said Zambia has continued to enjoy a comparative advantage in the Property Market because of its lucrative business environment.

Meanwhile Mr Simfukwe said there was need for Zambians living abroad to fully utilize the prevailing investment opportunities in the country’s housing sub-sector.

He hailed NAPSA, Nkwashi Property Development and Meanwood Property Investment for investing in the housing sub-sector through various schemes.

And Zambians Together vice-chairperson Kalinde Mpande implored Zambians living abroad to take advantage of the flourishing property market and invest in the infrastructure sector.

“The NHA Diaspora policy, and mortgage provisions for the diaspora by ZNBS as well as other products that are being tailored to the diaspora market give hope that Zambians living abroad can take part in the market.” said Mr. Mpande.

The Guests Speakers for the Town Hall Meeting comprised among others: Head Banking and Mortgage Sales, Zambia National Building Society, Ms. Cynthia Mwila, Co-Founder, One Square Kalingalinga – Ms. Kupela Clarke, Co-Founder, Cubes Apartment – Ms. Dima Mushauko, Co-Founder, Nkwahsi Property Development – Mr Mwiya Musokotwane, Zambia Institute of Estate Agents President and Seef Property Group Zambia General Manager – Mr Bryan Mushota, Co-Founder and Managing Director Pam Golding – Ms. Inutu Zaloumis and Mr. Chikondi Francis Mwanza Senior Manager Fintech Products and Strategy, MTN Zambia.

This is according to a media statement made available by First Secretary for Press and Public Relations at the Zambian Embassy in the United Kingdom Abigail Chaponda.

The Independent Observer

John Sakala is a Journalist yearning for independent journalism

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