Access to housing still key to community development and welfare – Stanbic Bank

Zambia’s housing stock deficit stands between 2 million and 3 million, with the need to build at least 200, 000 houses every year all over Zambia Lusaka, August 23, 2012 – Despite Zambia’s economic growth expected at seven percent over the next few years and continued investments in infrastructure, access to housing remains the key to the development and sustainability of communities countrywide. And Stanbic Bank Zambia has donated K25 million towards programs by Habitat for Humanity Zambia to construct 44 houses for orphans and vulnerable children (OVCs), 90 houses under the urban program and 15 houses in the rural program. Also under this initiative, the Bank has volunteered 60 staff to participate in building of housing units in various communities. Speaking in Lusaka when Deputy Minister for Community Development, Mother and Child, Ms Dorothy Kazunga joined Stanbic Bank and Habitat for Humanity staff in the building of a housing unit in Kabanana Township, Stanbic Bank chief executive officer Dennis Kennedy noted that homeownership gives members of the community a platform from which they can build their lives and become productive members of society. “We as a Bank are aware of the fact that Zambia has a housing deficit that stands between 2 million and 3 million and that the Zambian Government is looking to address this challenge across the country, Stanbic Bank’s decision to work with a practical organisation like Habitat for Humanity Zambia makes sense. This is our way of contributing to the need” said Kennedy. He added that as a corporate citizen, the Bank is committed to ensuring that it remains relevant to the communities in which it operates and invests in sustainable ventures that make a real difference to the lives of those community members Habitat for Humanity Zambia National Director, Joseph S. Munsanje indicated that his organisation was glad to demonstrate the love of Jesus by complementing government efforts to reach vision 2030 and eliminate Housing poverty in Zambia. “Working with likeminded corporate organisations such as Stanbic Bank gives us a huge boost in delivering our work to promote decent affordable housing for all, as we support the global community’s commitment to housing as a basic human right. And Deputy Minister for Community Development, Mother and Child, Ms Dorothy Kazunga noted that the vision of the Government of the Republic of Zambia in the housing sector is, “to have planned settlements with adequate, affordable and quality housing by 2030”. “The government recognizes that affordable housing is a basic human need which can lead to improvements in society’s welfare and consequently contribute to wider social and economic development. This is clearly articulated in the Sixth National Development Plan,” she added. Hon. Kazunga said the Zambiang Government is fully aware of the fundamental role that the housing sector can play when taken as an economic investment and not only viewed as a social service. “It is common knowledge that housing inadequacy can have adverse impacts on the health, and general wellbeing of society as well as on the environment. The availability of decent, affordable and adequate housing is an important pre-requisite to national economic development. Any shortfall in the housing sector could trigger severe negative impacts on social welfare, the environment and on the general performance of the national economy.”