CBZ Holdings March Partnership Magazine 1st Edition - Flipbook - Page 23
CBZ Partnership Magazine • Q1 March 2024
Umuzi/Musha
Investment Account
CBZ Bank has introduced the Musha/Umuzi Investment Account, targeting the informal sector, as well as the diaspora
community. This strategic move aims to harness deposits through incentives to purchase properties on very affordable
terms, an initiative that contributes to the government’s efforts to address the national housing backlog.
nderstanding the challenges faced by individuals in the informal
sector, where demonstrating traditional sources of income is
often a hurdle that scuttles their chances of securing mortgages, CBZ
Bank has carved out a solution that empowers this demographic.
For those wishing to secure home ownership, the Umuzi/Musha
Investment Account presents itself as a viable alternative by offering
a 1% investment earning per year.
U
The Umuzi/Musha Investment Account offers flexibility for prospective
homeowners, with low entry requirements for fully serviced lowdensity housing in Gateway City, Mutare and Mtausi Park in Gweru.
Gateway City sizes range from 1 700-3 800 square meters selling
at $22 per square meter and Mtausi Park is $13 per square meter,
excluding 15% VAT if buying with a mortgage loan over 2 years.
visits, data collection, and assessment of the environmental impact
of the project.
Coupled with the option to pay the balance over a period ranging
from 6 to 24 months, a 10% deposit for high-density housing in
Nehosho, Gweru, and Mbizo 21, Kwekwe, secures the reservation
of property with an irrevocable offer letter that indicates monthly
payments together with other terms and conditions of purchase.
As is commonly known,
banks play a crucial role in
the real estate industry and
the economy as a whole.
They provide individuals
with the means to become
homeowners and start
building a better future
for themselves and their
families. Thus CBZ Bank
has made it possible for
individuals and corporates
to access affordable
housing.
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