Q FM Africa's Modern Radio
Horizon Properties Limited Chief Executive Officer Saul Kiwempindi has charged that the continued housing deficit in the country is as a result of failure by most Zambians to access financial services due to high lending interests by financial institutions.
Dr. Kiwempindi says Zambians are not able to access loans to help them acquire land due to the high interest rates charged by financial lending institutions citing that as long as the interest rates remain high, the housing deficit will continue increasing.
He says financial institutions should realize that most Zambians are not in formal employment while many other are youths and women who need land but are unable to access it due to challenges in acquiring loans.
Dr. Kiwempindi says it is thus vital that financial institutions come up with affordable loans and fair interest charges to help the people of Zambia acquire land.
He has further appealed to banks not to concentrate on giving loans to those in formal employment but every Zambian in need of loans to help them acquire land.