Speaking during the launch in Lilongwe, Standard Bank Head of Personal & Business Banking Dr Margaret Kubwalo-Chaika said the partnership signifies the Bank’s commitment in complimenting government’s efforts in providing affordable houses to the citizenry.
“We at Standard Bank are proud to be associated with the initiative by 14 Trees Ltd to provide decent housing to Malawians while conserving the environment. The current initiative in which 14 Trees provides concrete bricks as an alternative to clay bricks in the construction of houses and other commercial buildings will contribute to sustainable growth of Malawi’s real estate sector. This in the long-term will translate into wealth creation and usher meaningful economic growth for Malawi,” said Chaika.
Chaika said the Bank’s role in this partnership is to provide customers wishing to own decent homes with access to tailor-made financial solutions.
“We would like to encourage Malawians to take advantage of this building loan product that the Bank is offering. As a Bank, we are giving our customers a lifetime opportunity to own a brand new house. Together let’s build you a home that you can pay in affordable monthly amounts for up to 20 years,” she said.
The Head of Personal & Business Banking reiterated the Bank’s commitment to build wealth for its customers and prosperity for the country as a whole.
“Our experience as Africa’s largest bank by assets and as one of Malawi’s leading banks guarantees, our customers access to a pool of talented financial services professionals. We are anxious to provide solutions tailored to suit the property and wealth creation needs of our customers. Our Building Loan offer is in line with our purpose of “Together Driving Growth to Build Mother Malawi,” she said.
Francis Chilemba who is Programs Manager for Durabric Homes at 14 Trees Ltd said through the partnership Standard Bank and 14 Trees will be contributing to saving the environment as the Durabric homes are constructed in an environmental friendly manner.
"These houses are constructed using what we call soil stabling blocks and we are using solar geysers which means we are saving 20 percent energy and 20 percent of water so you can see how environmental friendly these houses are," Chilemba said.
The project will be piloted in Lilongwe and eventually expand to other cities in Malawi.