NBS to float bonds to raise $150 million to build 10 000 houses this year

National Social Security Association (NSSA) owned National Building Society (NBS) is aiming to raise $150 million dollars or the construction of 10 000 housing units this year. This is part of the bank’s target to build 100 000 houses over the next five years. The NBS aims to raise the money by floating a series of bonds in the second half of the year.

NBS managing director Mr Ken Chitando said:

We are still working on the structure of the bond… so you would appreciate that with the nature of these securities there is need to be cautious. The plan is to do it in tranches and see how the market reacts

More: Chronicle