President Hakainde Hichilema has called for increased investment in quality and affordable housing across the country, stating that access to decent accommodation is key to decentralised economic growth and national development.
Speaking when he officiated at the opening of the new Zambia National Building Society (ZNBS) Head Office in Lusaka, President Hichilema said housing plays a critical role in attracting skilled professionals to emerging economic centres outside the capital.
“When we speak about economic growth and decentralisation, we must also speak about where people live. Housing is not a luxury; it is a basic requirement for dignity, stability and productivity,” President Hichilema said.
The President noted that many young professionals hesitate to relocate to growing provincial towns due to inadequate housing and social infrastructure, a situation he said contributes to over-concentration of development in Lusaka.
He urged ZNBS to position itself as a key player in delivering modern and affordable housing solutions nationwide, adding that technological advancements now make it possible for citizens to live and work productively anywhere in the country.
“Citizens should be able to live productively anywhere in Zambia without feeling disadvantaged,” he said.
President Hichilema also commended ZNBS management for transforming the institution through prudent financial management, noting that the Society had moved from depending on government support to generating returns for its shareholders.
“Instead of placing demand on the Treasury, Zambia National Building Society is now paying dividends, which is the kind of business we want to see,” he said.
The Head of State further encouraged businesses and local authorities to adopt fair pricing models and prioritise quality service delivery, timely project completion and professional standards in infrastructure development.
“Do not focus on excessive profit margins; build your reputation through fairness, quality and timely delivery,” President Hichilema advised.
He reaffirmed the government’s support to institutions driving economic transformation and pledged continued efforts to remove operational bottlenecks through policy reforms and coordinated implementation mechanisms.
President Hichilema said government reforms in debt restructuring, energy, mining and infrastructure development were creating a conducive environment for investment, including in the housing sector.
And ZNBS Board Chairperson, Geoffrey Samukonga, explained that relocation from the congested Central Business District addresses operational challenges while providing a modern workspace that meets international standards.
Mr Samukonga said the refurbishment was carried out entirely by Zambian contractors, supporting local industries and creating jobs in the construction sector.
Minister of Infrastructure, Housing and Urban Development, Charles Milupi commended the ZNBS for playing a critical role in mobilising savings, facilitating investment, and expanding access to housing finance, directly contributing to job creation, economic growth, and improved livelihoods for Zambians.
Mr Milupi reaffirmed the government’s commitment to restoring macroeconomic stability, implementing disciplined reforms, and creating a predictable environment for public and private sector growth.
He said initiatives such as Cabinet’s approval of Class A shares for ZNBS aim to strengthen the institution’s capital base and position it for long-term growth, enabling it to support housing and infrastructure development across the country.
Meanwhile, ZNBS Managing Director, Mildred Mutesa said the relocation reflects the institution’s resilience and commitment to providing affordable housing finance for Zambians.
Ms Mutesa noted that over the past five years, ZNBS has supported more than 10,000 households, growing its mortgage portfolio from 183 million kwacha to over one billion kwacha.
She highlighted key projects, including the Port view Housing Project in Chilanga and Maronera Estates in Muchinga Province. Similar initiatives are planned in Chikankata, Chisamba, Lumezi, and Mumbwa.
She disclosed that partnerships with organisations like Habitat for Humanity are also helping extend housing finance to the informal sector through innovative programs such as the Chimanga Housing Loan.
