Chronicle EditorBusiness Reporter
THE National Building Society’s non-executive chairman Gamaliel Bwanya has stepped down from the institution hardly a year after its establishment. Mr Bwanya, who was instrumental in the setting up of the building society, starting with the acquisition of its operating licence, recruitment of management and its launch, confirmed his departure from the institution.“I have left the NBS for personal reasons,” said Mr Bwanya. The chairman of the National Social Security Authority, the owners of NBS, Robin Vela confirmed the departure of Mr Bwanya saying the society’s board has competent skills to fill the now vacant post.
“Yes Mr Bwanya has resigned and I have accepted his resignation. NBS is a national strategic organisation which is tasked with the timely delivery of housing. I would like to thank Mr Bwanya for the success on the launch of NBS and the success in bringing NBS to where it is today,” said Mr Vela.
“Within the board we have competent skills to fill the post but we have not appointed anyone yet.”
Mr Bwanya is experienced in property development and construction. NBS is a registered building society under the Building Society Act Chapter 24:20. The Society was set up by NSSA as a result of an investment through the National Pensions Scheme Fund and the Workers Compensation Insurance Fund with 60 percent and 40 percent stakes respectively. NBS is poised to play a role in the provision and facilitation for affordable housing developments national housing through its solid capital base and support structure.
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