- November 18, 2021
- Posted by: Alice Mapulanga
- Category: Uncategorized
The Minister of Labour and Social Security, Honorable Brenda Tambatamba has flagged off the sale of NAPSA plots at River View Park off Twin Palms Road. The 600-hectare River View Park project is an addition to the NAPSA Investment portfolio as the Authority seeks to grow its members’ funds and contribute to economic growth.
The project, which is valued at K597 million Kwacha, is mixed-use development modelled on the green cities concept of urban planning. it will include a town centre with retail and office amenities, high, medium, and low density and developer residential units, recreational parks, business parks, civil amenities such as schools and churches and a dedicated solar park. The project not only serves as an investment to the Authority but is also directed at addressing the housing deficit in Lusaka.
Speaking at the flagging off event, NAPSA Director General Mr. Yollard Kachinda stated that the process of purchasing plots and payments terms is flexible and include cash payment options of up to three and six months, and members also can get a mortgage facility that has been arranged between NAPSA and The National Building Society.
“This option allows even medium to low-income earners to own land in this development due to long loan repayment periods and attractive interest rates that have been negotiated below the market rates” Mr. Kachinda said.
He also reiterated the Authority’s deliberate effort aimed at preserving the environment, which was why the development would house dedicated solar farm in promotion of a green economy.
And Mr. Kachinda emphasized the importance of records management in pension administration, which was the reason the Authority constructed the new records centre to store, under one roof, all Authority records from across the country for effective and efficient claims processing.
The Guest of Honor at the event, Minister of Labour and Social Security, Honorable Brenda Tambatamba, expressed delight at the Authority’s continued development initiatives that not only grow members’ funds but are also directed at providing solutions to challenges in the country.
Hon. Tambatamba urged members of the public to take advantage of the opportunity presented by NAPSA to own land. She acknowledged that the biggest challenge that people in the country faced when it came to land acquisition and housing was Finances, but happily noted that NAPSA had partnered with the Zambia National Building Society to provide affordable mortgage financing for those who would wish to access funds to purchase the River View Park Plots. She has further urged NAPSA and ZNBS to continue exploring similar initiatives in other parts of the country and contribute towards giving the people of Zambia an equal opportunity to own land and housing.
The Minister also commended NAPSA management for its effort to efficiently manage members’ records and improve pension administration.
“I am pleased to note that NAPSA has not only put in place an efficient records management system, but also developed the appropriate infrastructure for records storage. I therefore wish to commend management for having the foresight to invest in this very important piece of infrastructure,” she said.
The prices for the plots at River View Park range from k460 to k1,771 per square meter depending on the plot category. Members of the public can access more information on River View Park plots on www.riverviewpark.co.zm