Ms. Masebo said the local authorities that are supposed to address the country\u2019s backlog
of over one million housing units are unable to provide housing due to the inadequate
She said government decided to approve the issuance of housing bonds by local
authorities through the Lusaka Stock Exchange to raise cheap and long-term finance for
the construction of houses nationwide.
And speaking earlier, NHBT Board Chairman Abel Mkandawire said the board
constituted under the Ministry of Local Government is mandated to serve all Zambians
with housing and has members from both the private and public sectors.
LOCAL Government and Housing Minister, Sylvia Masebo, says the Government
wants to ensure that there is transparency in the issuance of housing bonds to the
Ms Masebo said yesterday when she opened a national housing bonds stakeholders
meeting that the setting up of the National Housing Bonds Trust (NHBT) was to
ensure the process was properly managed.
She said that the Government wanted to fence the whole investment structure and
process to ensure that when the programme of issuing bonds started there would be
no credibility problems.
He said as a result the Government approved the issuance of housing bonds by local
authorities through the Lusaka Stock Exchange as a means of raising cheap and
long-term finance for the construction of houses.
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