WINDHOEK – FNB Namibia has unveiled a plan to help municipalities and town councils service land.
“As we all know, most municipalities and town councils in Namibia are hampered from servicing land and providing the proper services due to budget constraints. Therefore, a scarcity of available land for purchase by Namibians is the order of the day and FNB Namibia has come up with a product to supplement the municipalities/town councils/government with their limited resources to avail serviced land to our people,” says Leslie Puriza, Head of Public Sector Banking at FNB Namibia.
“As an innovative bank, we would like to offer our assistance, as we know that the municipalities/town councils should direct their funds to other essential services, such as existing provision of sanitation, water, electricity, roads, public transport, ambulances to name but a few. This is a service that each citizen may expect and FNB Namibia, therefore, wishes to lend a helping hand to ease the burden on the municipalities and town councils.”
FNB Namibia will provide loan to the municipalities or town councils to service the land and re-payment of that loan will not come from the operational or capital cash flows of these organisations but from the proceeds from the sale of the serviced land to the end-users.
“The end-users may buy this serviced land through cash or loans secured from any financial institutions, including FNB Namibia.”
Servicing of land includes installation of the supply of water, storm water, electricity, sewerage and proper grading of gravel road/tarred road as per the town plan regulation.
The municipalities and town councils will be at liberty to appoint the contractors or developers to service the land.
Puriza says: “FNB Namibia is a partner in this venture and wishes to support the authorities while also lending a helping hand to Namibians who wish to own their own plot and build their own dream houses. The end-user is more than welcome to approach us for a loan to purchase the land and FNB can also assist in building that dream house. We are involved in this to contribute to delivery of affordable land to our people. This contribution is a token of our participation in achieving the government objectives in terms of Vision 2030 and the Harambee Prosperity Plan.”
2018-10-02 10:12:10 4 months ago