Zimbabwe, under the leadership of the Second Republic is committed to strengthening the financial sector and ushering in an enabling environment for economic growth, Minister of State for Provincial Affairs and Devolution in Mashonaland Central Christopher Magomo said to mark the opening of the Bindura branch of the National Building Society.
In a speech read on his behalf by the province's Permanent Secretary Mr Timothy Maregere, Minister Magomo said it was pleasing to note that NBS was heeding President Mnangagwa's call for the decentralisation of such services, thereby
leaving no one and no place behind.
"The opening of this branch is a clear demonstration to the Government's commitment to strengthening the financial sector and creating an enabling environment for economic growth and prosperity.
"It is also timely and aligns well with the Second Republic's vision of decentralising development and ensuring that every corner of our country benefits from economic development, under the mantra, 'leaving no place and no one behind'.
"It is my hope that this bank will help unlock the vast potential that exists within our province particularly here in Bindura town," he said.
Minister Magomo said the opening of the NBS branch in Bindura would undoubtedly stimulate economic activities in the province.
"Globally, the banking sector is the lifeblood of any economy. The sector mobilises resources and channels them to productive sectors of the economy. With expanded options and access to banking services, our small and medium-sized enterprises and individual entrepreneurs will have the support they need to grow and thrive.
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"This, in turn, will lead to increased productivity and higher income levels thereby contributing to the gross domestic product of our province," he said. Such initiatives were in tandem with Zimbabwe's national goal of becoming and upper-middle-class economy by 2030.
"It is also pleasing to note that NBS's primary focus on low-cost housing delivery and the provision of affordable mortgage facilities is perfectly in sync with the national economic blueprint, the National Development Strategy 1 which seeks to contribute to Vision 2030 in terms of housing delivery.
"Mortgage facilities, in particular, help bridge the gap in housing availability and affordability. As a province, we very much welcome NBS, and I want to take this opportunity to implore our local authorities, the private sector, and everyone else to capitalise on this opportunity to engage and seek financial services from NBS," he said.
NBS acting managing director Mr Sifiso Mahlangu said the opening of the Bindura branch was testament of its commitment to ensuring affordable housing and financial services became more accessible to all Zimbabweans
"Our Bindura branch, consistent with what NBS has become, will be a one stop shop to all customers, including big corporates, supporting the growth of SMEs, personal products and services and offering of affordable micro-finance solutions through our recently launched micro-finance entity Lenderspark Finance," he said.
