Standard Bank plc has partnered 14 Trees Limited, a joint venture between LafargeHolcim and CDC Group plc, to enable their customers own decent houses.
Speaking during the launch of the project in Lilongwe, the bank’s head of personal and business banking Margaret Kubwalo-Chaika said the partnership signifies the bank’s commitment to complementing Malawi Government’s efforts to provide affordable houses.
“At Standard Bank, we are proud to be associated with the initiative by 14 Trees Limited to provide decent housing 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 the real estate sector.
“This in the long-term will translate into wealth creation and usher in meaningful economic growth,” she said.
Kubwalo-Chaika said the Malawi Stock Exchange (MSE)-listed bank’s role in the partnership is aimed at providing customers the opportunity to own decent houses with access to tailor-made financial solutions.
“We want to encourage Malawians to take advantage of this building loan product that we are offering. As a bank, we are giving our customers a life-time opportunity to own a new house. Together, let us build a home that you can pay for in affordable monthly installments for up to 20 years,” she said.
On his part, 14 Trees Limited manager for durabric homes Francis Chilemba said through the partnership, they will be contributing to saving the environment as 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,” he said.
The project will be piloted in Lilongwe and eventually expand to other cities in th country.
14 Trees Limited aims to accelerate the production of durabric, an environmentally-friendly and alternative to traditional clay and burnt bricks.