Tanzania Daily News (Dar es Salaam)

25 February 2013

Tanzania: PSPF Members to Get Affordable Housing Loans

THE Public Service Pensions Fund (PSPF) has completed a pilot project to construct 491 houses for its employees through loan scheme.

PSPF Acting Director General, Mr Adam Maingu, said in Dar es Salaam over the weekend that the houses built at Buyuni area on the outskirts of the city would be purchased between 69m/- and 94m/- each.

"PSPF members can buy the houses through a loan scheme with interest of 12 per cent to be paid within 20 and 25 years," said the acting director general when briefing the Deputy Mister for Minister Finance, Ms Janet Mbene, who visited the houses site.

Mr Maingu said that PSPF was also constructing a twin tower building along Sokoine Drive in the city centre which will have thirty-two floors worth 132bn/- and would be completed in January, 2014."The building, which comprises both apartment and offices, is geared to add to PSPF incomes," he said.

Ms Mbene, who visited both projects, called upon Ilala municipality to build a road to Buyuni area to facilitate transport for people who will purchase the houses, saying the project is aimed at addressing problems of residence in the city.She hailed PSPF for investing in different projects to boost incomes and she urged fund members to come forward to buy the houses.

The 491 houses at Buyuni area is part of a pilot project which aims at building 641 houses in five regions including Morogoro, Shinyanga, Tabora and Mtwara. The houses are sold to members who have contributed for five years

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