KALULUSHI, MONDAY 12 OCTOBER 2015

The Minister of Labour and Social Security, Honourable Mr. Fackson Shamenda MP today launched the commencement of the sale of the National Pension Scheme Authority (NAPSA) Housing Units at the Kalulushi Housing Project.

In launching the sale the Minister also announced the discounts on the selling prices for the various types of houses.

The discounts applicable are 40% on the low cost houses; an average of 30% on the medium cost and 14% on the high cost houses. In addition the Minister announced that the Authority has put in place arrangements for mortgage finance facilities with participating banks and financial institutions. He said that these measures are aimed at empowering interested and eligible buyers to purchase the housing units. Furthermore, a rent- to – buy option is available for buyers who may not take up the mortgage facility.

The price reduction follows the Board of Trustees’ review of public concerns about high prices, current economic challenges and the need to preserve members’ funds.

Within the fund’s objectives the Trustees have to ensure capital appreciation of assets and growth of the fund.

 Hon. Shamenda said that “My government has a long term plan to improve housing outcomes and a commitment to develop an affordable housing strategy for Zambians as one of our aspirations as government”

Hon. Shamenda further remarked that by allowing the Board of Trustees to evaluate the best outcomes that balance between the objectives of the fund and the expectations from the public is a demonstration of government’s commitment to ensuring the sustainable management of the pension fund while meeting the needs of the stakeholders.

Mr. Teddy D. Mulonga, Chairman of the NAPSA Board of Trustees remarkedthat the Board of Trustees as fiduciaries considered the need to balance the provision of capital for economic growth and the growth of the fund on a sustainable basis.

In welcoming this development, the area MP Hon. Rayford Mbulu, thanked Hon. Shamenda for this initiative which responds to the needs of the constituency.

At the same function, Hon. Shamenda handed over the keys to the first purchaser Mrs. Helen Makumba and congratulated her for owning her own house.

Issued by the Corporate Affairs Department, NAPSA

 

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