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Enacy Mapakame
Construction of NMBZ Holdings Limited’s new head office in Harare nears completion with the group expected to move in during the first half of financial year 2020.

The new head office is sitting on a land in Borrowdale that was acquired more than 15 years ago for the purpose.

“The construction of our new head office along Borrowdale Road is progressing well and the new building should be ready for occupation in the first half of 2020,” said group chief executive officer Benefit Washaya in a statement accompanying the group’s trading update for the nine months to September 30, 2019.

This comes as the group is spreading its footprint with focus on increasing its customer base as well as transactional volumes anchored on digital banking initiatives together with enhancing financial inclusion through opening of low cost accounts.

“We continued to invest in digital channels to support a cashless society and in this regard, the bank has continued to rollout POS devices to SMEs and the informal sector and the take up has been quite positive, much to the convenience of the transacting public and our valued customers,” said Mr Washaya.

During the nine months to September 30, 2019, the bank opened a branch in the resort town of Victoria Falls on September 09 for the convenience of the tourist town’s residents and visitors.

NMBZ’s new head office project comes as several other businesses are moving their headquarters or all businesses out of the central business districts (CBD) for office parks or suburban areas as infrastructure deficits in the country’s city centres as well as their general decay have deterred investment.

The city centres, especially the capital Harare, has suffered massive decay on the back of an increase in illegal activities such as vending on pavements and roadways, illegal transport services, congestion and general uncleanliness.

Companies have also cited noise pollution and high traffic congestion in the CBD as one of the factors for moving to more quieter and serene environments conducive for business.

Additionally, burst water pipes, electricity power cuts have also contributed to the unattractiveness of the CBD, which has contributed towards deterring investors in the property industry from the CBDs.