NBS expands service offerings

NATIONAL Building Society (NBS) has launched a fully-fledged Corporate and Institutional Banking (CIB) unit as it moves to strengthen its balance sheet.
Officiating at the launch event in Harare last week, Reserve Bank of Zimbabwe governor John Mangudya said NBS’s new thrust to on-board corporate and institutional businesses would help diversify the institution’s funding sources.
“NBS’ realisation of the strategic need for entering the corporate and institutional banking space reflects a deliberate strategy to align the business model to the vision of supporting industrialisation though offering a bouquet of corporate banking products and to enhance stakeholder value in a fast-changing world, thereby ensuring the long-term viability of the institution.

NBS managing director Tapera Mushoriwa

“This strategic thrust to on-board corporate and institutional businesses will strengthen the NBS balance sheet and thus contribute to institutional sustainability.”
Mangudya added that banking institutions have the power to redirect capital to accelerate the pace and scale of positive change in the economy.
“On its part, NBS has largely been contributing to national development through financial inclusion and housing development. This focus is in line with Zimbabwe’s vision of becoming an upper-middle income economy by 2030 and is in support of the National Development Strategy 1 (NDS1) (2021-2025), whose overarching goal is to ensure high, accelerated, inclusive, and sustainable economic growth, as well as socio-economic transformation and development,” Mangudya further said.
Mangudya’s speech was read on his by the director of bank supervision, Philip Madamombe.
Addressing stakeholders at the event, NBS managing director Tapera Mushoriwa said the new unit was launched to contribute to the progress and development of Zimbabwe in attaining Vision 2023.
“To this effect, we believe the launching of CIB will ensure that the society meets the national mandate and vision of our society.”
Speaking at the same event, divisional head Clifford Mtemeri said the society recognised the need for specialisation and in response, created a service structure-based sector-specific relationship managers and analysts division.
“As a result, a comprehensive range of bespoke solutions is crafted on a constant basis, specific to the requirements of top-tier corporations and organisations, while providing key support for their strategic initiatives.
Moreover, NBS CIB furnishes clients with a range of service lines through structured finance, corporate, and treasury solutions,” he said.
Mushoriwa reiterated NBS’s commitment to serving all its customers, both existing and prospective.

“We are a Zimbabwean bank; this is home. We understand the market and our current and future performance is tied to the same operating environment. We believe in banking focused on you by providing tailor-made solutions specific to your circumstances and aligned to your vision”.
NBS launched the new unit through a golf tournament and evening launch cocktail event in Newlands, Harare.
Last year, NBS wound up the Dzivarasekwa housing project, which churned out 600 units.
This year, the bank delivered 200 units in Harare’s Tynwald suburb. Mushoriwa said the institution has all hands on deck to play its part in helping the country deliver 220 000 housing units by 2025.