First National Bank (FNB) Zambia Ltd has reaffirmed its commitment to supporting the development of the Commercial Property sector in Zambia on 21st August 2018. FNB Zambia, a provider of mortgage financing for residential and commercial properties, says the construction industry will continue to be a significant contributor to the Zambian economy in the short term.
FNB are panelists at the third ZamReal Property Forum that kicked off on 21st August at the Taj Pamodzi Hotel in Lusaka. ZamReal is a one-day forum centered on the Zambian real estate market. The conference brings together both local and regional delegates, including developers, investors, public sector leaders, financiers, as well as property professionals looking to expand their Zambia real estate business.
Speaking about the bank’s sponsorship and participation, Head of Business and Commercial, Yokonia Ngoma said that the two-to-three-year investment outlook for Zambia’s Commercial Property sector is very positive given the resurgence in copper price and the structural changes in the economy.
“With a scenario that is characterised by a shortage of modern retail commercial properties in many prime areas, it is easy to see why Zambia, with a projected average GDP growth rate of 5.0% between 2016 and 2020, still remains a leading destination for commercial property investment is sub-Saharan Africa” added Ngoma.
The 2018 ZamReal Property Forum will specifically focus on the impact of policy, finance, infrastructure and mining on the local real estate sector and what needs to be done now to ensure that sustainable growth is achieved. According to the conference’s website, over 120 entities have confirmed their participation in this year’s conference.
“The country’s liberalised economy and well-developed legal framework sets Zambia apart from its neighbours. The holding of this forum in Zambia affirms the attractiveness of the country as an investment destination of choice in sub-Saharan Africa. The forum will be an excellent opportunity for investors to appreciate the opportunities available in the various regions of the country, for instance, in the broader Copperbelt region, with particular focus on Ndola and Kitwe,” he concluded.