Bank, Dangote partner to tackle housing deficit in Zambia


Stanbic Bank Zambia Limited has partnered with Dangote Cement Industries to increase the number of housing units being constructed under its initiative targeting at least 150 houses annually.

Zambia reportedly requires over 200,000 housing units annually to narrow its current house deficit.

Its flagship ‘Buy-a-Brick’ campaign is a programme the institution is using to bridge this gap.

In a statement issued on Tuesday, Head, Brand and Marketing, Eric Ngondo, explained that the institution had partnered with Dangote to increase the number of low-cost houses being constructed under the ‘Buy-a-Brick’ campaign.

The bank envisages that the partnership with Dangote would lead to a further 50 housing units annually.

Read more: Output, new orders down amid money shortages in economy —Stanbic PMI report

“With Dangote now coming on board, we envisage this target to grow to a further 50 housing units annually, meaning the total number of low-cost houses to be constructed could potentially rise to around 150 units per year.

“Dangote brings enormous experience from the construction sector, and they will be contributing 5,000 pockets of cement annually under their CSR portfolio. This will significantly boost our capabilities to finance the construction of more houses over a shorter period of time. We’re immensely grateful for their support,” the bank stated.

Dangote Cement Zambia Chief Financial Officer, Choolwe Natala Lungu, in her comment on the partnership noted that the campaign would go a long way towards addressing homelessness for citizens.

“As Dangote, we are delighted to partner with the bank in the ‘Buy-a-Brick’ campaign. We felt inspired by bank’s drive to address the homelessness situation in our country, and decided to partner with them to tackle the housing deficit in the country.

“In this regard, we are proud to announce that we are contributing 5,000 pockets of cement per annum to help scale-up the construction of low-cost accommodation and boost housing security for vulnerable families. We deeply care about the communities we operate in, and believe that this campaign will go a long way towards addressing homelessness for our citizens,” she said.

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