Zanzibar. Azania Bank Limited, in partnership with the Zanzibar Housing Corporation (ZHC), yesterday launched a mortgage service for homes constructed by the company in varied elements of Unguja and Pemba islands.
Speaking on the launch and the signing of an settlement between Azania Bank and ZHC on the financial institution’s Zanzibar department, the lender’s Senior Manager, Mr Jackson Lohay, stated the Bank has organized itself nicely and is able to loans to these inquisitive about shopping for the homes, whose prices are inexpensive.
“First and foremost, I want to congratulate ZHC for displaying their willingness to cooperate with us, on this they’ve proven the fact that it’s an establishment that goals to uplift the folks of Zanzibar by deeds,” stated Mr Lohay, including that the Bank is the primary in Tanzania to offer housing loans.
“We, at Azania Bank, are able to serve you as a result of we’re not new to this business, we’ve sufficient expertise as I stated and we offers you housing loans of very low pursuits ranging from 14 %, whereby the mortgage compensation interval is as much as 25 years and its circumstances are pleasant. “Any Tanzanian is allowed supplied they meet the factors and circumstances of mortgage repayments in accordance with the fee movement,” Mr Loray insisted.
For her half, the ZHC Director General, Ms Mwanaisha Ali Said, defined that the settlement into which they’d entered with Azania Bank would give their prospects simplicity, saying that and now they might have a large scope to allow them to purchase and personal homes with out concern.
‘’Entering into this settlement is a continuation of our plans as an establishment to empower the Zanzibaris to purchase homes in a straightforward manner, we often promote our homes in a number of methods together with by way of money and thru mortgage.
“After realising that the acquisition of our homes by way of loans we didn’t do very nicely, we needed to strategy Azania Bank as a result of we all know they’ve a large expertise within the space of mortgage financing and eventually right now we’re going to signal an official settlement. “I urge all residents to grab up this chance, at present we’ve a venture within the space of Mombasa kwa Mchina right here in Zanzibar on setting up 72 homes, whereby about 90 per cent of the homes have already been bought
“Not solely that, but additionally there are different tasks similar to the world of Mkiwa in Chakechake, Pemba, the place 220 homes below development together with Nyamanzi right here on Zanzibar (120 homes) and at Kisakakasaka, the place 240 homes are being constructed,”Ms Said.
