HARARE – Hundreds of desperate civil servants have been left high and dry after the National Social Security Authority (NSSA) and the National Building Society (NBS) failed to honour a promise to deliver 600 low-cost houses by September 2018.
The housing units in Harare’s Dzivarasekwa suburb were part of NSSA’s ambitious “command housing” plan to deliver 10,000 housing units by December 2018 through its subsidiary, NBS.
To date, less than 300 units have been completed, and beneficiaries say NSSA and NBS have also gone on and changed terms of the original agreement without consulting them.
ZimLive has been handed audios of a meeting held on November 15 last year between NSSA, NBS and the aggrieved beneficiaries.
NBS was represented at the meeting by Privilege Zanamwe (Home Loans Manager), Sifiso Mahlangu (Head of Business Banking), Tendai Nyamadzawa (Head of Risk) and Raymond Mudehwe (Chief Housing Officer) who chaired the meeting.
Mudehwa is heard assuring the beneficiaries that NBS would honour its contractual agreement after resolving a legal dispute with the contractor, N Frasys Pvt Ltd, which has stalled work.
Beneficiaries were stunned however, in February this year, when NBS unilaterally changed terms of the original agreement which stated that beneficiaries had an obligation to pay a 15 percent (US$7,346.57) of the total US$45,327.27 mortgage which would be paid off through monthly instalments of US$367.35 spread across 25 years.
The new offer letters dated February 5 dictated that beneficiaries had to pay an additional 10 percent of the outstanding mortgage (US$37,980.79); an application fee of US$100; agreement of sale fees and a US$50 processing fees.
The beneficiaries have reacted furiously. One wrote to NBS: “I refer to the above and your new offer letter. I was very excited to have received your old offer letter and waited patiently from 2018 to 2021 to be handed my keys. However, this new contract doesn’t seem to have been made in good faith.
“I have contributed to NSSA for more than 10 years and I understand the obligation you have towards pensioners and value preservation of invested.
“I am most aggrieved by these new requirements, the deposit was made two years ago, there is no basis of repayment of a new deposit.”
NSSA communications officer Tendai Mutseyekwa referred all question to NBS, saying the bank was responsible for the housing scheme.
NBS home loans manager Zanamwe directed this reporter to a marketing and communications phone line which rang unanswered.
Meanwhile, ZimLive understands an out of court settlement has been reached between NBS and N Frasys Pvt Ltd, which will see the contractor getting over 100 stands of the 600 stands offered under the scheme.
The agreement paves the way for N Frasys to resume construction work.
