Zimbuild partners banks in construction projects

Midlands Bureau Chief
GWERU-based property development firm, Zimbuild Properties Investments, has partnered with CBZ and BancABC banks in rolling out residential and other construction projects.

The two financial institutions would provide insurance and monetary support.

Zimbuild chief executive officer, Tinashe Manzungu, said CBZ Life Insurance would provide insurance cover to their clients in the event of risks such as death, permanent disability, injury and illness.

“We’re delighted to note that we’ve partnered CBZ and BancABC. Through the CBZ Credit Insurance scheme package the bank takes over the balance for residential stands costs in the event that our client faces some misfortune,” he said.

Manzungu was addressing guests at an event organised by Zimbuild Properties Investments in Gweru yesterday.

He said CBZ would also take over the balance in the event of permanent disability of a client while in cases of temporary disability the bank will pay monthly contributions to buy the stand.

Manzungu said Zimbuild took into consideration the hard economic conditions and the liquidity challenges facing the country to offer stands to clients at zero deposit.

To date, he said, the company has availed more than 700 stands in Montrose suburb in Gweru.

CBZ Gweru financial advisor, Pascal Gumbwe, said his bank was providing optional insurance cover as a way of assisting clients attain their  goals.

“If a member falls sick, get injured, get disabled and dies after a minimum of a month after joining the CBZ Life Insurance cover, we move in and takeover the debt,” he said.

BancABC, branch manager, Goodwill Mudzviti also said they would provide financial support for home improvements and construction projects.

Addressing the same gathering, Mudzviti said his bank, which is listed on the London Stock Exchange provides free banking to schools, leases finance facilities and money for borehole drilling at schools.

“Zimbuild clients can get mortgage finance for a period of 10 years at nominal rates,” he said.