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National Housing Bond Trust (NHBT)

National Housing Bond Trust (NHBT)

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Published by Flava Radio Limited
National Housing Bond Trust (NHBT) - Why was it abandoned?
National Housing Bond Trust (NHBT) - Why was it abandoned?

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Published by: Flava Radio Limited on Jan 28, 2010
Copyright:Attribution Non-commercial


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National Housing Bonds Trust to issue bonds on LUSE
Posted on January 31st, 2008
The National Housing Bonds Trust (NHBT) will soon issue the first bond on the Lusaka
Stock Exchange (LUSE) to raise funds for the construction of houses countrywide.
Local Government and Housing Minister Silvia Masebo disclosed this when she
officiated at the NHBT stakeholders meeting held in Lusaka today.

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
revenue base.

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.

She said the first phase in the exercise will cover Solwezi, Livingstone, Kitwe, Chipata
and Lusaka.
She the exercise will be rolled out to other districts after the pilot project in the first five
towns in completed.

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.

Mr. Mkandawire said the board is not wholly government but a partnership among
various stakeholders in providing decent housing to citizens.
Notable among the stakeholders present at the meeting were Ministers of Education
Geoffrey Lungwagwa, Finance and National Planning Ng\u2019andu Magande, Lands
Bradford Machila and United Liberal Party President Sakwiba Sikota.
There \u2019ll be transparency in issuance of
housing bonds, says minister
By Times Reporter

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.

\u201cIt was deliberate because the Government wants to create a completely
independent and transparent structure and process in which all stakeholders would
have faith,\u201d she said.

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.

She said by 1996 when the national housing policy was published, the country had a
housing backlog of over one million and the situation had worsened now.
The minister said that housing was a basic social need after food and clothing and
that it was a pre-requisite to national socio-economic development.
She said it was unfortunate that local authorities that were supposed to solve the
problem had no capacity to source for funds because they had a weak revenue base.

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.

About 5,000 housing units are expected to be built in Lusaka, Chipata, Solwezi,
Livingstone and Kitwe by 2015.

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