Namibia Housing Enterprise - Standard Bank has entered into an agreement with Namibia Housing Enterprise (NHE) that would see about 600 of its employees receiving houses from the state-owned national housing company.

Standard Bank says the agreement with NHE came about through its ongoing wages and salary negotiations with the trade union representing bank workers.

"Standard Bank Namibia and Bank Workers Union of Namibia (BAWON) at the time formed a committee to explore low-cost housing opportunities for Standard Bank Namibia employees.It is as a result of this mandate that we approached the National Housing Enterprise as a partner to this project," explained Mpumzi Pupuma, the managing director of Standard Bank Namibia.

Bank employees who qualify under this housing scheme would follow the normal home loan application procedures at Standard Bank.

The bank would thereafter provide NHE with a list of interested and qualifying employees, their geographic locations, and proof of financing pre-approval which will include the qualifying loan amount.

NHE will in turn make presentations to employees on the type and range of houses available in various geographic locations.

"Apart from the provision of houses to the employees of Standard Bank, it is my contention that this initiative would also result in boosting economic growth and job creation," said NHE chief executive officer Vinson Hailulu.

Standard Bank Namibia hopes to provide housing to 600 of its employees.

Staff Reporter

New Era/28/09/2011